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US agrees to clean-up deal with bankrupt miner, hopes for payment

The US government agreed to a mine clean-up deal that allows coal producer Alpha Natural Resources to exit bankruptcy, despite concerns that Alpha will be unable to fund $400-million in commitments, a government lawyer told a court on Thursday.
The agreement stems from an industry subsidy that allows coal companies to self-insure the environmental costs of mining, called self-bonding, rather than set aside cash or other collateral.