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Parent Company of Logan County Mine Files For Bankruptcy

More signs of lean times for the coal industry. The parent company of Logan County's Viper Mine, St. Louis-based Arch Coal, has filed for Chapter 11 bankruptcy protection.

The coal industry is struggling as electric power companies shift to using natural gas and adjust to talk of tougher emissions standards. Arch Coal Inc. says its mines will remain open and its employees should not be immediately affected by the bankruptcy process. Phil Gonet, President of the Illinois Coal Association, believes the bankruptcy court action will mine positive results for the company.

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Arch Coal stock recorded considerable losses throughout the day of trading on Wall Street.

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