Kinder Morgan Moves Beyond Pipelines With New Coal Venture

Law360, New York (June 10, 2013, 2:54 PM EDT) -- Kinder Morgan Energy Partners LP is expanding beyond its pipeline roots, launching a new venture Monday to buy coal properties and recruiting a former chief executive of now-bankrupt Patriot Coal Corp. to run it.

Richard Whiting, who left Patriot in 2012 as the company tipped into insolvency, is now president of the newly launched Kinder Morgan Resources LLC, which will own coal reserves in North America. The company won't actively mine the properties, but instead will lease them to others and pick up royalty payments....
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