Alpha Natural Resources
"[3] Alpha Natural Resources was established in 2002 by management (original CEO Michael Quillen played a major role) and First Reserve Stockholders (though it officially incorporated in November 2004).[4][5] Around the same time it made its first major acquisition, The Brink's Company's Virginian coal business, for $62.9 million (Virginia is currently a significant source of primary production).Alpha Natural Resources filed for an IPO during December 2004 in an attempt to raise US$250 million to repay debt (strong coal prices also affected the timing of this).[11] Massey Energy had become a takeover target after suffering large income losses and negative publicity following an explosion at West Virginia's Upper Big Branch mine that killed 29 employees.[8] Federal regulators and the Mine Safety and Health Administration blamed the explosion on Massey's poor practices; however, the company contested the findings, citing a methane leak.[13] Alpha settled Massey's Upper Big Branch Mine disaster liabilities with the U.S. Attorney for $209 million on December 6, 2011.[14][15][16] On September 18, 2012, Alpha announced a plan to idle eight coal mines and to lay off 800 employees before the November 2012 federal elections in the United States.The deal will apparently have no impact on the building's sole tenant (Alpha), which at the time had 22 years remaining on a 25-year lease.Black Bear Surface Mines was previously operated, but more recently is one of the company's two land restoration projects.