MSNBC reported that Patriot Coal has announced that they will phase out and eventually stop all large-scale mountaintop removal mining in the central Appalachia region, as part of an agreement reached with environmental groups.
As quoted in the market report:
St. Louis-based Patriot said the proposed agreement allows it to postpone as much as $27 million in expenses into 2014 and beyond, improving its liquidity and the likelihood it can successfully emerge from Chapter 11 protection as a viable business.
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