Photo: Cathy (flickr)
James River Coal Company has filed for Chapter 11 bankruptcy protection.
Chief executive officer Peter Socha says that the coal markets in the United States have changed very dramatically over the last several years.
Socha says power companies in the U.S. have switched to much cheaper natural gas, depressing the thermal coal prices.
James River Coal mines are engaged in processing and the selling of thermal & metallurgical-coal through eight active mining complexes that are located across eastern Kentucky, West Virginia and southern Indiana.