The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.
The U.S. coal industry is hit by another major blow as Alpha Natural Resources Inc. will file for Chapter 11 bankruptcy court protection on Monday.
Natural gas exploration and production company Rice Energy Inc. on Monday filed with the US Securities and Exchange Commission for an initial public offering of its common stock. Rice Energy seeks to raise $800 million in the deal.