Energy

After another unsuccessful attempt to get $20 million, it was able to obtain $5 million in emergency funding to secure the mines and the equipment.

The attorneys for Blackjewel said they expect to provide another status report by Wednesday.

Wyoming Machinery Co., owns a lot of equipment at the mines and it provides monthly about $3 million in maintenance and other services.

On July 1, Blackjewel LLC, announced that it could not get a $20 million loan from a creditor bank, and filed for Chapter 11 bankruptcy business reorganization.

Monday, Blackjewel failed to secure $20 million in emergency funding, and then immediately closed the mines and sent more than 600 mine workers home.

The bankruptcy court also authorized the debtors to pay vendors and shippers that billed Blackjewel before the bankruptcy petition.

BNSF Railway, which has hauled coal from the Belle Ayr and Eagle Butte mines in Campbell County, is aware that their owner Blackjewel LLC, has filed for Chapter 11 bankruptcy business reorganization, a BNSF spokeswoman said in an email Wednesday...

The Bankruptcy Court of the Southern District of West Virginia is scheduled to conduct the emergency hearing at 12:30 p.m. MST.

The company said it would file for Chapter 7 liquidation if it couldn't persuade the bankruptcy court to approve the emergency financing deal.

If Blackjewel LLC, and the other debtors convert the Chapter 11 business reorganization bankruptcy filing to Chapter 7, the entire company will shut down.