Rebecca Son, liquidating agent for CR, said the hold-up in transferring the company's permits to some other entity is with Kentucky Emerald. In transferring, KELC would probably pay another company to take over the permits and reclamation responsibilities. CR is broke, so what it has to lose by having the bonds called is the possibility of being sold, said Emily Medine, former vice president and now consultant for the company. CR believes having bonds in place and valid permits will make it more attractive to prospective buyers. I just know we're going to take a cautious approach.
Fiscal court has the final say on the mining committee's decisions.
And for the county to call a coal company's bonds would be unprecedented. We're just pushing paper. So far, the local mining committee has been following the state Department of Surface Mining Enforcement's lead, continuing to renew CR's permits while negotiations are reported by the company as ongoing. But Hicks said he thinks the state may be waiting for the county to make the bolder move. Larry Adams, the director for the state's surface mining permit division, said the state also is frustrated with the situation.