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Bankrupt Cambrian Coal Explores Sale Process

 


 

By Mariaan Webb


June 20, 2019 - Kentucky- and Virginia-focused Cambrian Coal said on Wednesday that its mining operations and customer shipments would continue during a court-supervised sale process.


The coking and thermal coal miner, which at the weekend filed for relief under Chapter 11 of the Bankruptcy Code in Kentucky, would be prepared for sale, president Mark Campbell said in a statement.


Cambrian has received commitments from certain of its lenders for up to $15-million of debtor-in-possession financing.


Cambrian operates at three primary mining facilities, including Perry County Coal, located near Hazard, Kentucky, Premier Elkhorn Coal, located near Dorton, Kentucky, and Clintwood Elkhorn Mining, located in eastern Kentucky and western Virginia.