Alpha Natural Said Filing for Bankruptcy as Soon as Monday

Alpha Natural Resources Inc. is planning to file for bankruptcy protection in Virginia as soon as Monday as the biggest miner of U.S. coal used in steelmaking struggles amid the worst commodities slump in more than a decade, according to three people with direct knowledge of the matter.

The company’s senior lenders including Citigroup Inc. and Davidson Kempner Capital Management plan to provide a loan to fund the company through bankruptcy, said the people, who asked not to be named because the discussions are private. The company is in talks with the creditors over a plan that would include shutting mines, two of the people said. The conversations continue and the court would have authority over such actions during Chapter 11 proceedings.