Cloud peak default casts shadow over prB exports future

摘要

United States (US) thermal coal miner and exporter Cloud Peak Energy's wholly owned subsidiary, Cloud Peak Energy (CPE) Resources, said Monday that it chose not to make a $1.8m interest payment on certain senior notes by an extended, grace-period deadline on 14 April and thus was in default. Cloud Peak had previously advised this default was likely to occur. However, Cloud Peak, which mines and exports Powder River Basin (PRB) sub-bituminous coal to Asia, has arranged for an extension to 1 May to make the payment.