Orano warns of financial problems at Niger uranium plant
The West African nation increasingly seeks new partners, such as Russia, in its mining sector.
Facing criminal and civil penalties over the Upper Big Branch Mine disaster, Alpha Natural Resources (NYSE:ANR) will pay $200 million to settle a suit leveled by the U.S. Attorney in Charleston, West Virginia.
News of the settlement caused Alpha’s stock to drop 3.58% to $24.30
The Upper Big Branch Mine disaster, which occurred in April 2010, cost the lives of 29 miners after methane levels rose resulting in an explosion. It was the worse accident in the U.S. since 1970.
Massey Energy, the owner of the mine at that time, was faulted by investigators for improperly maintaining its ventilation system. Massey was acquired by Alpha Natural Resources in January 2011 for $7.1 billion.
Funds from the settlement will go to families of the victims and for safety research.
