trending Market Intelligence /marketintelligence/en/news-insights/trending/YPtbgEpLFRC3IBHedYqweA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Condo posted as bonding collateral will cover reclamation costs of Utah mine

Essential Energy Insights - September, 2020

Bull market leaves US utilities behind in August

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Utilities, midstream reckon with energy transformation on the horizon

Condo posted as bonding collateral will cover reclamation costs of Utah mine

A Utah agency has covered the costs of coal mine reclamation at a shuttered facility after years of battles by selling off a condominium posted as collateral.

According to The Salt Lake Tribune, the Utah Division of Oil, Gas and Mining, or DOGM, said a condominium posted as collateral for a mine lease formerly owned by America West Resources Inc. subsidiary Hidden Splendor Resources has sold and should cover the costs of plugging the mine portal and returning 9.5 acres to a natural state.

Hidden Splendor lost its lease to mine the coal at the Horizon mine in Carbon County, Utah, in 2015 after it failed to pay royalties for production in 2012. America West filed for bankruptcy in 2013.

The Utah agency insisted that principal Alexander Walker III, an attorney in Salt Lake City, and his family reclaim the site and deal with the environmental violations, according to The Tribune. While a bond would normally cover reclamation costs if companies go bankrupt, the Walkers had posted a condominium in Salt Lake City as collateral. The Utah DOGM agreed to accept the condo this spring instead of reclamation money. The unit sold for $498,000, while the reclamation costs were estimated at $520,000.

The Horizon mine produced 210,096 tons of coal in 2012 and 370,150 tons in 2011, according to the U.S. Mine Safety and Health Administration.