Reuters: Bankruptcy News: UPDATE 1-Rhino Resource says Patriot bankruptcy's impact on JV uncertain

Reuters: Bankruptcy News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Rhino Resource says Patriot bankruptcy's impact on JV uncertain Jul 10th 2012, 22:01 July 10 | Tue Jul 10, 2012 6:01pm EDT July 10 (Reuters) - Rhino Resource Partners LP said the impact of partner Patriot Coal Corp's bankruptcy filing on their joint venture in West Virginia is uncertain, but it expects operations at the mettalurgical coal venture to continue. Patriot Coal Corp filed for bankruptcy on Monday hit by weak coal prices and low demand from electricity producers who have turned to cheaper natural gas. "Rhino expects the joint venture will continue normal operations and does not expect the bankruptcy filing to have a material negative effect on Rhino Eastern," the company said. Rhino Eastern, the joint venture in which Patriot holds a 49 percent stake, produced 98,000 tons of steel-making coal during the second quarter.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions