The sudden collapse of the coal industry has been as swift as it has been shocking.
The Associated Press reports that a proposal to build a $400 million railroad to haul coal from a planned mine on the Montana-Wyoming border is on hold.
Tongue River Railroad Co. has suspended the permitting process for a 42-mile rail line, which would connect the proposed Otter Creek Mine in the Powder River Basin to the town of Colstrip and on to existing rail lines. The mine, however, has had trouble opening on schedule given the weak market for coal, and the railroad company is putting their permit process on indefinite hold.
FULL STORY: Coal railroad plans on hold due to mine permitting delays
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The unraveling of the coal industry, as exemplified by the demise of Arch Coal, was on display again as federal regulators put the final nail in the coffin of a proposed coal railroad.
Another Coal Project Bites the Dust
Arch Coal's plans to develop a mine in Otter Creek Valley, east of Billings, is the latest casualty in the death throes of the coal industry.
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The state of Wyoming made billions in tax revenues off the coal industry. But after waves of layoffs, those left in the state are asking: What's left of those revenues for workers?
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