"The ailing coal industry must face the costs of cleaning up spent mines even as companies get pushed toward bankruptcy, the U.S. Interior Secretary said on Tuesday.
The mining industry is responsible for restoring old mine sites but a taxpayer subsidy called "self bonding" has allowed some of the largest companies to forego a large share of cleanup insurance.
Bankrupt Alpha Natural Resources and Arch Coal have sought to jettison cleanup liabilities in bankruptcy court and Interior Secretary Sally Jewell said officials will not tolerate such maneuvers."
Patrick Rucker reports for Reuters February 23, 2016.
Source: Reuters, 02/24/2016
