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.

To view the whole MSNBC report, click here.