Group Questions Coal Company Clean Up Funding | WGLT

Group Questions Coal Company Clean Up Funding

Feb 15, 2016

The Bucyrus Erie 3850-B Power Shovel named "Big Hog" went to work next door to Paradise Fossil Plant for Peabody Coal Company's ( Peabody Energy ) Sinclair Surface Mine in 1962. When it started work it was received with grand fanfare and was the Largest Shovel in The World with a bucket size of 115 cubic yards. After it finished work in the mid 1980's, it was buried in a pit on the mine's property. It remains there today.
Credit MichaelINBA / Flickr via Creative Commons

A Midwest environmental group has followed through on its promise to formally challenge Peabody Energy's ability to guarantee it has enough money for future cleanup of its Illinois and Indiana coal mines. The Environmental Law and Policy Center asking regulators to stop allowing the St. Louis-based company to use the process known as self-bonding instead of posting conventional bonds for mine remediation. Peabody has pledged that it has adequate assets to pay for the estimated $92 million needed to reclaim three southern Illinois mines once there's no coal left to extract, or if the company shuts down. Its Indiana mine remediation costs are estimated at $163 million. Another environmental group last week formally challenged Peabody's self-bonding in Wyoming and other Rocky Mountain states.