CHARLESTON, W.Va. — Alpha Natural Resources said Tuesday that it has emerged from bankruptcy as a smaller, privately held company that hopes is better positioned to survive a drastically downsized coal market.
Once a giant producer, the new Alpha will operate 18 mines and eight preparation plants in West Virginia and Kentucky. Alpha’s larger and more valuable properties — primarily in the western U.S. — were transferred during the reorganization to Contura Energy, a new company formed by Alpha’s first-lien lenders.
The announcement on Tuesday comes less than three weeks after Alpha’s reorganization plan received approval from a federal bankruptcy judge. Alpha and its affiliates will have offices in Julian, West Virginia; and Kingsport, Tennessee…
