Kentucky-based coal producer Rhino Resource Partners LP filed for Chapter 11 bankruptcy protection yesterday. Rhino operates mines in Kentucky, Ohio, Utah and West Virginia that produce thermal coal for power plants and metallurgical coal for steelmaking. Last year it acquired three underground mines in Virginia from Blackjewel LLC through its own ongoing bankruptcy. But Rhino, which has about 547 employees, cited a steep drop-off in coal sales and prices over the last three years in new filings with the U.S. Bankruptcy Court for the Southern District of Ohio.
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