Coal Age

JAN-FEB 2017

Coal Age Magazine - For more than 100 years, Coal Age has been the magazine that readers can trust for guidance and insight on this important industry.

Issue link: http://coal.epubxp.com/i/791412

Contents of this Issue

Navigation

Page 11 of 51

10 www.coalage.com January-February 2017 news continued As Oklahoma's Attorney General, Pruitt established the state's first "federalism unit" to combat unwarranted regulation and overreach by the federal government. He also joined a coalition of state attorneys general in a lawsuit challenging the Obama ad- ministration's Clean Power Plan. "As the governor of Texas, Rick Perry created a business cli- mate that produced millions of new jobs and lower energy prices in his state, and he will bring that same approach to our entire country as secretary of energy," said President Trump when he announced his intent to nominate Perry. "My administration is going to make sure we take advantage of our huge natural re- source deposits to make America energy independent and create vast new wealth for our nation, and Rick Perry is going to do an amazing job as the leader of that process." Gov. Perry said, "As the former governor of the nation's largest energy producing state, I know American energy is critical to our economy and our security. I look forward to engaging in a con- versation about the development, stewardship and regulation of our energy resources, safeguarding our nuclear arsenal, and promoting an American energy policy that creates jobs and puts America first." Illinois Power Generating Emerges From Chapter 11 Dynegy Inc. and Illinois Power Generating Company (Genco), an indirect, wholly owned subsidiary of Dynegy, announced that Genco emerged from its Chapter 11 restructuring after success- fully implementing its plan of reorganization, approved January 25 by the Southern District of Texas Bankruptcy Court. With Genco debt holder cooperation and approval, the two- monthlong Genco reorganization eliminated $825 million of unsecured Genco bonds; provided participating eligible Genco bondholders their share (across all noteholders) of approximate- ly $181.7 million of 8.034% new unsecured senior notes due 2024 issued by Dynegy with covenants that are substantially similar to Dynegy's existing 5.875% senior notes due 2023, 8.6 million seven-year warrants issued by Dynegy that are each exercisable into one share of Dynegy common stock for an exercise price of $35 and $87.1 million of cash; provided participating non-eligi- ble Genco bondholders their share (across all noteholders) of ap- proximately $17.1 million of cash; reduced consolidated annual cash interest expense by approximately $45 million; simplified Dynegy's capital and organizational structure; and situated the Genco plants in a stronger competitive position. Alliance Sees Large Increase in Net Income for 4Q 2016 Alliance Resource Partners did nothing to damage its reputa- tion as a coal industry leader with its fourth-quarter 2016 and full-year earnings, posting an impressive profit on near-record shipments in the October-December period while raising the bar for 2017. Atrum Coal NL appointed Alan Ahlgren as CFO. Ahl- gren has extensive experience as CFO with Graphite One Resources Inc., AQM Copper Inc. and First Coal Corp. Atrum also welcomed Chris Brown as company secretary, replacing Theo Renard. Eddie D. Turner P.E. has joined Weir International Inc. as vice president. Turner is a civil engineer with more than 35 years of experience in the mining industry in mine operations management and engineering, includ- ing mine planning, operations support and acquisitions. Pacific American Coal appointed Mark Lochtenberg as managing director to push forward develop- ment of the company's flagship coking coal project, Elko, in Brit- ish Columbia, Canada. Eriez promoted Andrew Goldner to director of export sales. Goldner rejoined Eriez in 2012 as export market development manager and served most recently as senior manager of exports. The United Mine Workers of America voted unan- imously to ratify the nomination of veteran UMWA official Bob Scaramozzino to serve as international secretary-treasurer. Scaramozzino will replace Daniel J. Kane, who is retiring after serving 12 years. Maurice "Maury" Deul, age 95, died November 8, 2016. He was best known in coal mining circles, both at home and abroad, for his groundbreaking work in methane control research that he carried out for many years at the U.S. Bureau of Mines. Coal brought him to Pittsburgh in 1957, where he pursued his interest in geology working for Bitumi- nous Coal Research, Consolidation Coal Co., the U. S. Bureau of Mines and after retiring, teaching at the University of Pittsburgh. In 1964, under his direction, goals were established for the methane control research program at the bureau. These included predicting methane concentrations, studying the effect of coal extraction on the emission of methane into mine workings, and devising methods to drain methane from coalbeds prior to extraction. This vital work resulted in the decreased number of explosions and many lives saved. He was a longtime active member of many orga- nizations including SME and the Pittsburgh Coal Mining Institute of America. For as long as coal is mined, the research work that he did in methane drainage will be remembered and taught to future gener- ations. He was most proud of "Bureau of Mines Bulletin B 687 (1988) Methane Control Research: Summary of Results, 1964-80," describing his work and the passion of much of his life. GIW Industries named Jonathan Samuel as vice president of sales and marketing. Ritchie Bros. Auctioneers Inc. announced that Terry Dolan, president, U.S. and Latin America, will leave the company. CEO Ravi Saligram will serve as interim president for the United States and Latin America. Alan Ahlgren m p e o p l e i n t h e n e w s Eddie D. Turner Mark Lochtenberg Bob Scaramozzino Maurice Deul Andrew Goldner Jonathan Samuel

Articles in this issue

Links on this page

Archives of this issue

view archives of Coal Age - JAN-FEB 2017