{"id":191,"date":"2020-12-08T21:06:49","date_gmt":"2020-12-08T21:06:49","guid":{"rendered":"http:\/\/miningproductsmagazine.com\/?p=191"},"modified":"2020-12-08T23:12:19","modified_gmt":"2020-12-08T23:12:19","slug":"murray-energy-emerges-from-bankruptcy-now-acnr","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2020\/12\/08\/murray-energy-emerges-from-bankruptcy-now-acnr\/","title":{"rendered":"Murray Energy emerges from bankruptcy, now ACNR"},"content":{"rendered":"

In mid-September, after almost a year in bankruptcy proceedings, Murray Energy emerged from its case and is now known as American Consolidated Natural Resources.<\/p>\n

<\/p>\n

\"\"The Chapter 11 plan was effective Sept. 16.<\/p>\n

Murray sold \u201csubstantially all\u201d of its assets to American Consolidated Natural Resources (ACNR) through the reorganization. ACNR is comprised of its superpriority term loan lenders. The coal miner said restructuring eliminated more than $8 billion of Murray debt and legacy liabilities, and also will give it access to new financing and, thus, financial flexibility going forward.<\/p>\n

ACNR will continue conducting Murray\u2019s business, owning and operating nine mines in six states. The UMWA also confirmed all of its represented workers were rehired.<\/p>\n

The newly formed ACNR additionally manage and operate the Foresight Energy mines and the Murray Metallurgical mines via a pair of separate management services agreements.<\/p>\n

\u201cThroughout these complex proceedings, we have been challenged with a global pandemic, extremely volatile coal markets, and months of uncertainty,\u201d Robert Moore, president and CEO of ACNR, said in a confirmation of the news.<\/p>\n

\u201cThrough the efforts and sacrifice of our dedicated employees, the United Mine Workers of America, our secured lenders, and our trade partners and customers, we are a much stronger company today than we were when we sought Chapter 11 protection.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In mid-September, after almost a year in bankruptcy proceedings, Murray Energy emerged from its case and is now known as American Consolidated Natural Resources.<\/p>\n","protected":false},"author":1,"featured_media":133,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[66],"tags":[87,88,86,85],"coauthors":[],"class_list":["post-191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-focus-on-coal","tag-acnr","tag-american-consolidated-natural-resources","tag-bankruptcy","tag-murray-energy"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t