Declining Coal Demand Sends Rhino Resource Into Ch. 11

Law360 (July 23, 2020, 11:57 AM EDT) -- Kentucky coal mining operation Rhino Resource Partners hit Chapter 11 in Ohio, saying a decline in demand for its metallurgical coal over the past 18 months has led to staggering operating losses.

In initial court filings late Wednesday, the debtor said it has about $162 million of debt and suffered nearly $100 million in losses by the end of 2019 as its cost-intensive operations dealt with plunging demand from coal consumers.

With operations in Ohio, Kentucky, Virginia, West Virginia and Utah, Rhino and its subsidiaries produced about 3.2 million tons of coal in 2019, down about 25% from the prior year,...

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