Whitesburg KY

Rhino scraps plans for Colorado

LOMA, Colo.

A company has abandoned plans to open a coal mine in the Bookcliffs area north of Loma, Colorado.

Kentucky-based Rhino Resource Partners LP says it is no longer pursuing development of its Red Cliff project and is recording a $22 million loss.

Rhino has invested $29 million in land, mineral rights and mine development in the project.

Rhino vice president Scott Morris says the company may keep some of its water rights and railroad access rights of way.

The Grand Junction Daily Sentinel reports the company cited continued weakness in the coal market for its decision.

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