Alpha Natural whacked by $27.5M water pollution fine, $200M cleanup


Alpha Natural Resources (ANR -1.1%) will pay a $27.5M fine - the largest fine ever for violations of water pollution permits - and spend $200M to reduce illegal toxic discharges into hundreds of waterways across five Appalachian states, according to a proposed settlement.

The government says that during 2006-13, ANR and its subsidiaries violated water pollution limits in state-issued permits more than 6,000 times, and discharged heavy metals and other contaminants from nearly 800 outfall pipes directly into waterways.

Under the settlement, the mine operators will install wastewater treatment systems and take other measures aimed at reducing discharges from 79 active coal mines and 25 coal processing plants.

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Comments (5)
  • CanadaPhil
    , contributor
    Comments (85) | Send Message
     
    It's actually a pretty small fine if we're looking at violating the law over 6000 times and dumping trash from up to 800 pipes... As for the $200M to reduce illegal toxic discharges, that's something the company should have been doing anyway.
    5 Mar 2014, 02:52 PM Reply Like
  • BornIn87
    , contributor
    Comments (111) | Send Message
     
    It's also quite arbitrary, I'm sure. The funds will be disbursed among the agencies. Another tax, to be used for bureaucratic purposes.

     

    I'm not pro-dumping heavy metals. But I'm also no fan of the EPA. I've dealt with their absolute power that answers to no one.
    5 Mar 2014, 03:17 PM Reply Like
  • nemonemo
    , contributor
    Comments (337) | Send Message
     
    What sort of morons seekingalpha got. Funny use of terms and wrong information. They already paid those about 70% of those fine. Digging up half information for shorting is shameful.
    5 Mar 2014, 02:54 PM Reply Like
  • Trendyglitzcompany
    , contributor
    Comments (561) | Send Message
     
    Yes, like like one poster said it is a small amount in fines and another poster brought up that most were already paid. I think it was CBS news or something brought it up simply because it had been complete in being paid but the price was already factored into the stock long ago HOWEVER; dumb investors and traders which are in the majority or the rest of us would never make money will possibly see it as some kind of new news with a fee just now paid and then panic sell. I will hope for that to get even lower and better prices this week unless smarter investors take control over trading sessions rest of the week then the stock would close the week out higher than today. That all remains to be seen so I will put some orders in to buy cheap since those prices would not last too long.

     

    Seeking Alpha should mention the full facts imo. As well all know, one writer on seeking alpha is in a whole lot of trouble over pumping a stock and giving false info. I don't see anything like that in this article but am sure seeking alpha is being watched hard and not just of writers but also posters too. They would be far more interested in writers that put articles out than a poster giving an opinion and stating it is JMO and I always state the fact things are my opinions only so I am okay and most writers of articles are as well as most posters.

     

    If someone posted a company was going bankrupt when it wasn't, they would be in a whole lot of trouble these days but only a true idiot would do something so crazy.
    5 Mar 2014, 09:02 PM Reply Like
  • BigGeneral
    , contributor
    Comments (163) | Send Message
     
    CHINESE regulator said that coal oversupply would last very last time. Meanwhile chinese government demands using less colal to combat pollution. my goodness. BTU ANR ACI WLT will file BK sooner or later.
    6 Mar 2014, 02:04 AM Reply Like
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