skip to main content
skip to newscasts

Friday, December 27, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Trump's top border adviser says he will bring back family detention; Advocates press for expanded access to services in CA; Winter aid available for Indiana rent, bills and basics; NM nonprofit aims to broker affordable housing solutions in Taos; Once homeless, a MO dog is now a children's book star.

view newscast page
play newscast audioPlay

Immigrants' advocates worry about Trump's mass deportation plans. Voters from both parties oppose ending the EPA's regulatory power. And older adults want lawmakers to lower prescription drug costs.

view newscast page
play newscast audioPlay

From the unprecedented election season to the latest environmental news, the Yonder Report looks back at stories that topped our weekly 2024 newscasts.

Who Will Clean Up If Indiana Coal Mines are Shuttered?

play audio
Play

Friday, March 18, 2016   

INDIANAPOLIS - Peabody Energy is the world's largest private-sector coal company, with customers in 25 countries on six continents. But it's now in financial trouble and has said in a filing with the U.S. Securities and Exchange Commission that it's likely to file soon for Chapter 11 bankruptcy.

Peabody's Indiana operation is based in Evansville, and Howard Learner, president and executive director of the Environmental Law and Policy Center, said one question is, who will clean up its six Indiana coal plants if they're shut down? Learner said the Indiana Department of Natural Resources let Peabody self-bond, which basically is a promise to pay for cleanup.

"There's a real possibility that unless Gov. (Mike) Pence and the Indiana Department of Natural Resources step up, Peabody will leave Indiana taxpayers holding the financial bag."

Learner said companies often buy third-party surety bonds that act as insurance policies to guarantee cleanup money is available when needed. Peabody self-bonded instead. Learner said that might have made sense five years ago when the company stock price was about $74 a share, but Peabody has since lost 99 percent of its market value.

At this point, the fate of the mines is uncertain. Peabody Energy said it has held discussions with lenders regarding potential debt-for-equity swaps or new financing. Learner said if the outcome is bankruptcy, anyone Peabody owes - including the state of Indiana - will be standing in line waiting for money.

"The solution here is for the Indiana Department of Natural Resources to do its job and do it well," he said, "namely require Peabody to put up real money or buy a bond so that it can comply with its environmental responsibilities to clean up and reclaim the land when the mines are shut down."

Peabody owns underground and surface mines throughout what's known as the Illinois Basin. The largest surface mine in the eastern United States is located in Sullivan County.


get more stories like this via email

more stories
The Farm Bill extension is in effect through Sept. 30, 2025, and includes nearly $31 billion in economic and disaster aid for farmers. (Adobe Stock)

Environment

play sound

Farmers in Wisconsin may be breathing a sigh of relief going into the new year with the farm bill extension but it may be temporary, as experts said …


Social Issues

play sound

More middle-aged and older South Dakotans had financial concerns this year, especially around health care, according to a new survey. Advocates for …

Social Issues

play sound

By Anya Petrone Slepyan for The Daily Yonder.Broadcast version by Roz Brown for New Mexico News Connection for the Public News Service/Daily Yonder Co…


Social Issues

play sound

Virginia's child welfare system grapples with a surge of unfounded reports that critics say stem from overly broad mandatory reporting laws, …

Olive, a poodle mix, has comforted more than 300 kids in Missouri's court system. (Photo courtesy of Therapy Paws)

Social Issues

play sound

A Missouri-based therapy dog has an inspiring journey that began as a homeless stray on the streets of Los Angeles. Olive, a ten-pound poodle mix…

Social Issues

play sound

California has more than 60,000 children in the foster care system and about 7,000 in extended care up to age 21 but many do not receive all the servi…

Social Issues

play sound

By Dwight Adams for Mirror Indy.Broadcast version by Joe Ulery for Indiana News Service reporting for the Mirror Indy-Free Press Indiana-Public News S…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021