Coal Age

APR 2016

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n e w s c o n t i n u e d sion was made only after a number of other cost-cutting mea- sures were exhausted," he said. It is clear, however, that the mine and its presence in the Powder River Basin (PRB) aren't going anywhere. "Arch expects the [PRB] to remain an essential energy source for the domestic and global power generation sector for decades to come," the company said. Black Thunder, which sold 99 mil- lion tons last year, is the second largest operation in the region. Foresight Trying to Avoid Bankruptcy Illinois Basin steam coal producer Foresight Energy continued to negotiate with lenders in late March to avoid becoming the latest U.S. coal company to file for bankruptcy after it failed to pay approximately $23.6 million in accrued and unpaid interest that was due on February 16. The failure to make the payment triggered a default, and the St. Louis-based company said in a regulatory filing it was "negoti- ating an out-of-court restructuring" with certain holders of its notes and other creditors. If it cannot reach an ultimate agree- ment with lenders, Foresight said it may be necessary to file a vol- untary Chapter 11 reorganization petition in a federal bankruptcy court. Most likely, such a filing would be made in the U.S. Bankruptcy Court for the Eastern District of Missouri in St. Louis. On March 23, Foresight told the federal Securities and Exchange Commission in Washington, D.C., that a forbearance agreement entered into with certain bondholders on December 18, 2015, had been extended again — this time until March 29 — as talks dragged on. The extensions "are intended to provide additional opportuni- ty to engage in discussions and negotiations with the holders of the notes and our secured lenders," the company said. Foresight, the largest coal producer in Illinois, is experienc- ing the same financial pressures that have bedeviled rival domestic coal producers such as Arch Coal and Alpha Natural Resources, both of whom filed for bankruptcy during the past year. They include declining demand for steam coal because of historically low natural gas prices that have resulted in coal-to- 8 www.coalage.com April 2016 P E O P L E I N T H E N E W S Alpha Natural Resources announced that Andy Eidson, senior vice president for strategy and business development, will assume additional duties as the CFO. Eidson, who has served in his current position since December 2015 and in other positions with Alpha since 2010, will join Alpha's manage- ment committee in the expanded role of executive vice presi- dent and CFO. Eidson will succeed Philip Cavatoni, who will resign as chief financial and strategy officer. Westmoreland Coal Co. announced that Gary Kohn has been appointed vice president, investor relations, and will serve as a member of the leadership team. Before joining Westmoreland, Kohn served in leadership roles in investor relations, treasury, and finance at companies including First Data, Western Union, Ciber and Intrepid Potash. Jacob Carr, lead general engineer for the National Institute of Occupational Safety and Health's (NIOSH) Pittsburgh Mining Research Division, is one of 105 individuals selected for the Presidential Early Career Awards for Scientists and Engineers. This award is the highest honor given by the U.S. government to science and engineering professionals in the early stages of their research careers. Selected from among a dozen federal agencies and departments, recipients are chosen for their pursuit of innovative research at the frontiers of science and technology and their commitment to community service as demonstrated through scientific leadership, public education, or community outreach. Carr will receive his award at a Washington, D.C., ceremony in the spring. Carr has been involved in project research related to proximity detection for continuous mining machines and intelligent lockout/tagout for stationary machinery. The prox- imity detection system developed through Carr's research provides enhanced protection against these hazards by continuously tracking the positions of miners and selectively disabling potentially dangerous machine motions. These new safety technologies that Carr has helped to develop receive high visibility in the mining safety community and hold promise to significantly enhance mine worker safety. Stuart Sanderson will step down after nearly 22 years as presi- dent of the Colorado Mining Association. Sanderson, an attorney, joined the CMA in October 1994, after it had suffered a slump fol- lowing a dues increase. Under his watch, the CMA has doubled its core corporate membership to 175 and increased revenues ten- fold. With service providers and other affiliates, the association's membership numbers more than 900. Tony Troutman joined FLSmidth as the vice president of process technology in the com- pany's minerals division. Alan Berger has been appointed senior vice presi- dent, technology at Volvo Construction Equipment. Scott Phillips joined GE as vice president of mining for GE Transportation. Before joining GE, Phillips served as president of Sandvik Mining. Continental Commercial Specialty Tires has appointed T. Shawn Rasey as new global business development manager earthmover. ECSI named Doug Mynear COO. Fred Eastridge has been named vice president, civil engineering. Andrew Lindsay "Drew" Lewis Jr., 84, died February 10. He served as Union Pacific Railroad chairman and CEO from April 1986 to April 1987. Lewis then served as Union Pacific Corp. president and CEO from 1987 to 1997. Lewis played a central role in the Union Pacific leadership team that completed key mergers, including the Missouri-Kansas-Texas Railroad in 1988, the Chicago & North Western Railroad in 1995, and the Southern Pacific Railroad in 1996. m Jacob Carr Andy Eidson Tony Troutman Stuart Sanderson Scott Phillips Alan Berger Doug Mynear T. Shawn Rasey Fred Eastridge

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