Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Commodities  >  Silver       XAGUSD

SILVER

SummaryQuotesChartsNews 
SummaryMost relevantAll NewsMarketScreener Strategies

Coal baron Murray seeks U.S. benefits to treat his black lung disease - report

share with twitter share with LinkedIn share with facebook
10/01/2020 | 06:26pm EDT
FILE PHOTO: Robert Murray, chairman, president, and chief executive officer of Murray Energy Corporation, poses for a portrait in St. Clairsville, Ohio

U.S. coal baron Robert Murray, whose company Murray Energy filed for bankruptcy last year, has applied for federal benefits to treat his black lung disease after opposing more stringent coal dust regulations for years, according to report by West Virginia public radio.

Murray, an ally of President Donald Trump, filed a claim with the Department of Labor seeking to access federal benefits to treat his disease, which is caused by prolonged exposure to coal dust, Ohio Valley ReSource - a National Public Radio affiliate, reported on Thursday.

Reuters could not independently confirm the report.

The news outlet said Murray wrote in his filing for benefits from the fund that he is heavily dependent on an oxygen tank and is "near death". Murray said he is entitled to benefits after working in underground mines for 63 years.

Murray's company was one of several coal companies that provided collateral to self-insure their obligations to employees diagnosed with black lung disease. In 2015, the Department of Labor had recommended revoking its authority to self-insure due to its deteriorating finances though it did not follow through.

After bankruptcy, American Consolidated Natural Resources -Murray Energy's new name after emerging from bankruptcy, is not responsible for old claims, shifting its $74.4 million liability to the federal government's Black Lung Disability Trust Fund, according to Labor Department estimates provided to Congress.

The Labor Department's Mine Safety and Health Administration, which administers the benefits, did not respond to a request for comment.

Mike McCown, spokesman for American Consolidated, declined to comment.

The Black Lung Disability Trust Fund is funded through a $1.10 per ton excise-tax on production of underground coal but runs a massive debt and is at risk of insolvency, according to the U.S. General Accountability Office.

The National Mining Association continues to fight to slash the tax in half.

By Valerie Volcovici


share with twitter share with LinkedIn share with facebook
All news about SILVER
10/30Stocks, oil tumble for the week on virus, U.S. election angst
RE
10/30In Japan's Nagasaki, some glimmers of economic revival
RE
10/30Glencore Cuts 2020 Coal Guidance Due to Strikes at Colombia Mine
DJ
10/30Gold edges up as dollar slips, pandemic fears grow
RE
10/29Stocks rally to pare weekly loss; oil falls further
RE
10/29Gold falls to one-month low as dollar extends rally
RE
10/29Ant IPO Promises $8 Billion Gain for Elite Group of Foreign Investors --Updat..
DJ
10/29First Quantum sees no negative impact from potential Zambia default - CFO
RE
10/29JACK MA : Ant IPO Promises $8 Billion Gain for Elite Group of Foreign Investors
DJ
10/29Sibanye-Stillwater's Q3 output at South African PGM mines down 18%
RE
More news
Chart SILVER
Duration : Period :
Silver Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SILVER
Short TermMid-TermLong Term
TrendsBearishNeutralBullish