Bankruptcy Judge Approves Kopper Glo’s Purchase of Black Mountain, Lone Mountain Mines
Out-of-work Kentucky miners who are blocking a coal train to demand unpaid wages from their bankrupt former coal employer on Tuesday took a big step closer to returning to work — and getting at least some of the money they are owed.
A federal bankruptcy judge on Tuesday signaled approval of Tennessee-based Kopper Glo’s purchase of Black Mountain and Lone Mountain mines in Harlan County as part of bankruptcy sales of Blackjewel’s mining operations in four states.
Kopper Glo President Hunter Hobson said that under the still-to-be finalized purchase, the company planned to reopen the handful of mines to produce metallurgical coal and reemploy as many miners as possible.
The deal includes $450,000 toward an estimated $2.5 million in owed wages to Kentucky miners and another $550,000 in royalties toward those wages once mining operations restart.
At the protest site Tuesday, miners who started the day cooking eggs and listening via phone to the bankruptcy proceedings from an open-windowed pickup truck were optimistic but cautious.
Source: Courier Journal
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