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UPDATE 1-Alpha no longer qualifies for mine cleanup insurance subsidy

WASHINGTON, May 29- Alpha Natural Resources Inc no longer qualifies for a government program that subsidizes a share of mine cleanup insurance, requiring the coal company to find another way to cover roughly $400 million in liabilities, Wyoming officials said on Friday. "At the end of the day, the rules for self bonding are very clear," said Keith Guille, a spokesman...
Source: Reuters | By: Patrick Rucker
Alpha Natural no longer qualified for "self bonding" in Wyoming

May 29- Alpha Natural Resources Inc said it was notified by Wyoming's environment department that it no longer qualified for "self bonding," which allowed the coal miner to avoid insurance or provisions of about $400 million for cleanup of mines. The news comes a day after a Delaware judge asked Alpha Natural to pay for the legal defense of Donald Blankenship, the...
Source: Reuters
Stocks to rally? Three ETFs won't make it

Even though U.S. stocks are trading at a record price, certain areas of the market may be ready to drop. Here's what to sell.
Source: CNBC.com | By: Giovanny Moreano
UPDATE 1-Judge orders Alpha to pay legal defense for Massey's ex-CEO

May 28- Alpha Natural Resources Inc must pay for the legal defense of Donald Blankenship, who is facing a criminal trial over a coal mining disaster in 2010, when he headed Alpha's Massey Energy Co business, a Delaware judge ruled on Thursday. The indictment also said that after the explosion, he misled the U.S. Securities and Exchange Commission about Massey's...
Source: Reuters | By: Tom Hals
Alpha ordered to pay ex-Massey CEO's legal fees

CHARLESTON, W.Va.- A federal judge has ordered Alpha Natural Resources to pay former Massey Energy CEO Don Blankenship's legal fees stemming from a criminal investigation and upcoming trial. In a ruling released Thursday in Delaware Chancery Court, the judge cited the terms of Massey's charter and the company's merger agreement with Alpha.
Source: The Associated Press
Huge drop in West Virginia coal production forecast

CHARLESTON, W.Va.- West Virginia University researchers predict that state coal production will drop 39 percent compared with the industry's last high point in 2008- less-than-encouraging news for more than 1,800 coal miners who learned last week they would likely lose their jobs. The report rattles off a combination of familiar economic, geological and...
Source: The Associated Press | By: By JONATHAN MATTISE, Associated Press
Murray Energy expects more than 1,800 coal mine layoffs

CHARLESTON, W.Va.- Appalachian coal mining suffered a double blow Friday, as Murray Energy announced plans to lay off more than 1,800 miners, most from West Virginia, and Alpha Natural Resources told another 439 Mountain State miners they could be out of work. On Friday, St. Clairsville, Ohio- based Murray Energy said it told 1,417 workers at five West Virginia mines...
Source: The Associated Press | By: By JONATHAN MATTISE, Associated Press
UPDATE 1-Alpha Natural posts bigger-than-expected adjusted loss

Alpha, which idled some of its mines in West Virginia earlier this year, said its revenue fell 24 percent to $842 million in the three months to March 31 as sales volumes dropped more than 11 percent. Peabody Energy Corp and Arch Coal Inc reported bigger-than-expected losses last week. Alpha cut its 2015 capital spending plan to $200 million- $250 million from $225...
Source: Reuters
Alpha Natural posts first profit in 13 quarters on $364 mln gain

April 30- U.S. coal miner Alpha Natural Resources Inc reported its first profit in 13 quarters, helped by a $364 million gain on early debt repayment. The company posted net income of $68.2 million, or 30 cents per share, in the first quarter ended March 31, compared with a loss of $55.7 million, or 25 cents per share, a year earlier. Revenue fell 24 percent to $842 million...
Source: Reuters