Coal Age

DEC 2012

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news continued Worth, Texas-based VHGI Holdings Inc., earlier this year, is operating the mine. The mine, located about 2 miles south of Jasonville in Greene County, was producing coal in November, confirmed Don "Blink" McCorkle, director of the Indiana Bureau of Mines. Attempts to reach company officials for comment were unsuccessful. CALENDAR OF EVENTS January 15-17, 2013 MSHA's Alternative Case Resolution Initiative: presented by Catamount Consulting and Patton Boggs LLP—will be held in Green Bay, Wis. Contact: Catamount Consulting LLC (Tel: 518-623-2352; Fax: 518-623-3658; Web: February 6-8, 2013 31st Annual World Trade & Transport Conference—will be held at the Omni Royal Orleans in New Orleans. Contact: The Mississippi Valley Trade & Transport Council (Tel: 866-782-6882; Fax: 504-588-1441; Web: February 10-13, 2013 39th Annual Conference on Explosives and Blasting Technique— will be held at the Omni Fort Worth Hotel in Fort Worth, Texas. Contact: International Society of Explosives Engineers (Tel: 440-349-4400; Web: February 24-27, 2013 142nd SME Annual Meeting and Exhibit and CMA 115th National Western Mining Conference—will be held in Denver, Colo. Contact: Society for Mining, Metallurgy & Exploration (Tel: 303-948-4200; Email:; Web: Landree was operating a single continuous miner unit and has plans to add a second unit, according to Steve Riley, the state's chief mine inspector. Landree is drawing upon a 21-million-ton reserve base. At least some of the coal is expected to go to Indianapolis Power & Light, an AES Corp. subsidiary, that entered into a definitive agreement early this year with VHGI to purchase 1 million tons from the mine over three years. The utility also has an option to buy an additional 180,000 tons in 2013 and 2014. The company has not publicly released overall tonnage projections for the mine. Last spring, VHGI Coal said it successfully tested its on-site rail delivery system by making an initial shipment to IP&L on March 25. The federal Mine Safety and Health Administration lists Landree as an "active" mine, but shows no production from the mine for the first three quarters of 2012. Indianapolis-based MacAllister Machinery, which bills itself as "Indiana's Caterpillar dealer," sued VHGI, Lily and Lily founder Rick Risinger in Greene County Circuit Court in late June, claiming it was owed more than $1 million in unpaid bills for construction equipment used to build Landree. The defendants have denied the accusations. VHGI Holdings is a diverse company with assets and interests focusing on opportunities within the precious metals, energy and mining markets. VHGI Coal is a wholly-owned subsidiary of VHGI Holdings. February 25-28, 2013 National Weighing and Sampling Association Annual Technical Meeting—will be held in Charlotte, N.C. Contact David Hansel, NW&SA (Email:; Web: March 7-8, 2013 21st Annual Coal Properties & Investment Conference—will be held at the Marriott Harbor Beach Resort & Spa in Ft. Lauderdale, Fla. Contact: Platts Conferences (Tel: 866-355-2930; Email:; Web: April 15-21, 2013 bauma 2013—will be held in Munich, Germany. Contact: Messe München GmbH (Tel: 49 89 949-11348; Fax: 49 89 949-11349; Email:; Web: April 30-May 2, 2013 Coal Prep 2013—will be held in Lexington, Ky. Contact: Penton Business Media (Tel: 800-927-5007; Email:; Web: May 19-22, 2013 Haulage & Loading—will be held in Litchfield Park, Ariz. Contact: Tanna Holzer (Tel: 303-283-0640; Email:; Web: June 11-13, 2013 Longwall USA Exhibition & Conference—will be held at the David L. Lawerence Convention Center in Pittsburgh, Pa. Contact: Tanna Holzer (Tel: 303283-0640; Email:; Web: August 11-15, 2013 23rd World Mining Congress—will be held in Montréal, Québec, Canada. Contact: Canadian Institute of Mining, Metallurgy and Petroleum (Tel: 514.939.2710; Web: or September 11-13 2013 Bluefield Coal Show—will be held at the Brushfork ArmoryCivic Center in Bluefield, W.Va. Contact: The Greater Bluefield Chamber of Commerce (Tel: 304-327-7184; Fax: 304-325-3085; Email:; Web: 22 Midwest Generation Faces Possible Bankruptcy Edison Mission Energy, the parent company of Chicago-based coal plant operator Midwest Generation LLC, faces a possible bankruptcy filing in mid-December unless it can reach a restructuring agreement with its bondholders. Rumors of a possible Chapter 11 bankruptcy filing have swirled around EME for much of this year. In a November 15 filing with the U.S. Securities and Exchange Commission, EME disclosed it elected not to make $97 million in interest payments that were due on unsecured EME bonds maturing in 2017, 2019 and 2027. Those unsecured bonds generally provide for a 30-day grace period for interest payments before a default is deemed to have occurred, the company said. "If the interest payments are not made prior to the expiration of the grace period on December 17, 2012, then generally either the trustee or the holders of not less than 25% in aggregate principal amount of the bonds may declare the entire principal amount of the bonds and the interest accrued thereon to be due and payable immediately," EME said. In such an event, EME said, it likely would file bankruptcy. In a subsequent SEC filing on November 21, EME said discussions were ongoing among several parties, including itself, its parent, Calif.-based Edison International, and EME's noteholders "regarding potential restructuring transactions of EME." Midwest Gen has indicated that if a bankruptcy petition is filed, its four remaining coal plants in northern Illinois—Joliet, Powerton, Waukegan and Will County—probably would continue to operate. In September, the company decided to shutter its Fisk and Crawford coal plants in Chicago earlier than December 2012

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