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  Resource Councils Welcome News that Peabody Energy Will Post New Bonds to Assure Reclamation of its Giant Mines in Wyoming Yesterday, Peabody Energy...


 

Resource Councils Welcome News that Peabody Energy Will Post New Bonds to Assure Reclamation of its Giant Mines in Wyoming

Yesterday, Peabody Energy announced that it would replace its "self-bonds" in Wyoming and other states as part of its plan to emerge from bankruptcy. The company reported that it has arranged for $1.26 billion in commercial surety bonds and $14.5 million through a state bond pool in Indiana to be in place upon the effective date of its Chapter 11 reorganization plan. The Powder River Basin Resource Council and the Western Organization of Resource Councils ("Resource Councils") welcomed Peabody's commitment to replace its self-bonds as third-party surety bonds will better protect taxpayers and landowners that live near the company's massive coal mines........  

 

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