Another lender moving away from financing MTR

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Another lender moving away from financing MTR

Post by ziggy on Tue Nov 02, 2010 6:34 pm

Of special note, this practice applies to new applications for credit by coal producers engaged in mountain top removal mining (MTR).

MTR is the subject of increasing regulatory and legislative scrutiny, with a focus on the permitting
of MTR mines. While this extraction method is permitted, PNC will not provide funding to individual MTR projects, nor will PNC provide credit to coal producers whose primary extraction method is
MTR. PNC will continue to monitor this industry while various regulatory issues are addressed
through legislation and public policy.

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