Coal billionaire Tykac eyes growth in bet against ESG uptake
Pavel Tykac’s Sev.en Group has taken advantage of cheap valuations to buy up coal power stations and mines in the US, Australia and Vietnam.
Dozens of south-eastern Kentucky residents have filed a lawsuit contending improper surface mining practices disrupted natural drainage and made area flooding worse in June, the Lexington Herald-Leader reported.
The lawsuit says several companies were cited numerous times before the flood for alleged violations such as failing to keep vegetation on mined areas and failing to keep runoff-control ponds cleaned out.
Nine are the companies named as defendants: Apollo Fuels, Bell County Coal, Strata Mining, Twin Star Coal, C&L Highwall Mining Partnership, LC&C Energy, T&T Energy, Stony Fork Mining and Tackett Creek Mining. They had mining operations in the Yellow Creek, Stony Fork Creek and Stevenson Creek watersheds, the lawsuit said.
Several large lawsuits have been filed in recent years contending that surface-mining practices in eastern Kentucky have contributed to flooding.
Read more here.
