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04

Alpha Natural Resources, a Onetime Coal Giant, Files for Bankruptcy Protecton

By Tony Seruga

Coal operations owned by Alpha Natural Resources in Sylvester, W. Va.CreditLuke Sharrett for The New York Times

Alpha Natural Resources, once a powerhouse of the American coal industry, filed for Chapter 11 bankruptcy protection on Monday so it may emerge from the grip of a $3 billion debt at a time when utilities are switching to natural gasand coal prices are plummeting.

Alpha Natural Resources borrowed heavily in 2011 to buy Massey Energy for $7.1 billion, seeking, like many coal companies at the time, to acquire an empire of Appalachian coal mines in the hope that China would be a growth market for exports.

That deal turned out to be a disaster for the company when demand for both steelmaking and power-generating coal declined domestically and in several important international markets in recent years…

Alpha Natural Resources, a Onetime Coal Giant, Files for Bankruptcy Protecton

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