Bankruptcy auction set for Rosebud Mine, sole supplier of coal to Colstrip [View all]
The lone source of coal for the Colstrip power plant has been scheduled for bankruptcy auction in late January.
Rosebud Mine will be auctioned Jan. 22, if necessary, to help pay the debts of Westmoreland Coal Co., which owns the mine. The United States Bankruptcy Court Southern District of Texas on Thursday set terms for the auction, which the Colorado-based coal company had requested in October.
Westmoreland did not respond to interview requests Friday by Lee Montana Newspapers. The company filed for bankruptcy Oct. 8, indicating that it had more than $1.4 billion in debt and assets of $770 million.
The future of the mine has sparked concern from environmentalists and Colstrip power plant owners.
Read more: https://mtstandard.com/news/government-and-politics/bankruptcy-auction-set-for-rosebud-mine-sole-supplier-of-coal/article_e7b933fe-1bfc-51cb-b24a-b7d7c321d43c.html
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