The Colorado Mining Association (CMA) issued the following statement this morning on the Chapter 11 filing by Peabody Energy. Stuart Sanderson, CMA President, said the “filing is unfortunate but comes as no surprise, given the challenging economic conditions facing our industry and the Obama Administration’s costly war on American workers and energy consumers. It is expected that operations at the Twentymile mine, one of the nation’s most efficient and Colorado’s second largest coal producer, will continue without interruption for the foreseeable future.”
Coal mining accounts for billions of dollars in revenue to Colorado, and its workers earn top wages and benefits which in 2015 approached $135,000 annually. Coal is an anchor of rural economies and our producers mine clean, high quality coal that is essential to providing secure, reliable and affordable power to Colorado. Coal accounts for nearly 60% of Colorado’s electricity needs and meets the state’s growing demand for power 24/7, 365 days per year. The royalties and taxes paid support public schools and local and state governments.
See article in Denver Post: http://www.denverpost.com/breakingnews/ci_29760798/peabody-largest-us-coal-miner-seeks-bankruptcy-protection
For additional information, please click on the link for the CMA Coal Report.
Stuart A. Sanderson
Colorado Mining Association
216 16th Street, Suite 1250
Denver, CO 80202