Blackjewel CEO confident bankrupt coal operator will rebound

CHARLESTON, W.Va. — The CEO of one of the nation's largest coal producers says he's confident the company will bounce back despite the shutdown of several mines after it filed for federal bankruptcy protection.

Milton-based Blackjewel LLC filed for Chapter 11 bankruptcy protection Monday in U.S. Bankruptcy Court for southern West Virginia. News outlets reported the company cited at least $500 million owed in liabilities.

Blackjewel follows other major U.S. coal producers that have filed for bankruptcy protection in recent years, including Englewood, Colorado-based Westmoreland Coal Co. in October and Gillette, Wyoming-based Cloud Peak Energy in May.

St. Louis-based Peabody Energy Corp. emerged from bankruptcy protection in 2017 and both Creve Coeur-based Arch Coal and Bristol, Virginia-based Alpha Natural Resources emerged in 2016.

Read more: https://www.stltoday.com/business/local/blackjewel-ceo-confident-bankrupt-coal-operator-will-rebound/article_5bb8781c-8da4-5ee2-b6da-f2e0dcdd771d.html