Biggest private coal miner goes bust after Trump rescue fails [Business News Network (BNN) Energy & Resources (Canada)]
NACCO Industries, Inc. (NC)
US:NYSE Investor Relations:
nacco.com/investor-relations/investor-relations-home/default.aspx
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Source: Business News Network
Biggest private coal miner goes bust after Trump rescue fails Robert E. Murray, the U.S. coal baron who pressed the Trump administration to help save America’s struggling miners, placed his company into bankruptcy as demand for the fossil fuel continues to weaken. Murray Energy Holdings Co. filed for Chapter 11 protection in the U.S. Bankruptcy Court in Columbus, Ohio, to restructure more than US$2.7 billion of debt. The miner -- the largest privately owned U.S. coal company -- reached a restructuring support agreement with lenders who hold more than 60 per cent of a US$1.7 billion loan, the company said in a statement. The deal provides a new US$350 million loan to keep operations going during the reorganization. The bankruptcy comes more than a year after the Trump administration’s efforts to subsidize struggling nuclear and coal-fired power plants failed, shot down by Trump’s own appointed energy regulators. Some of those plants were Murray Energy’s customers. Robert Murray, a big
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- NACCO Industries Third Quarter 2024 Earnings: EPS: US$2.14 (vs US$0.51 loss in 3Q 2023) [Yahoo! Finance]Yahoo! Finance
- NACCO INDUSTRIES ANNOUNCES THIRD QUARTER 2024 RESULTS [Yahoo! Finance]Yahoo! Finance
- NACCO INDUSTRIES ANNOUNCES THIRD QUARTER 2024 RESULTSPR Newswire
- NACCO INDUSTRIES ANNOUNCES DATES OF 2024 THIRD QUARTER EARNINGS RELEASE AND CONFERENCE CALLPR Newswire
NC
Sec Filings
- 11/19/24 - Form 8-K
- 10/30/24 - Form 10-Q
- 10/30/24 - Form 8-K
- NC's page on the SEC website