Coal news and updates

Alpha Natural Resources to close three CAPP met coal mines

Paramont Coal, a subsidiary of Alpha Natural Resources, said Monday it will shut three metallurgical coal mines and reduce the workforce at two other mines in southwest Virginia.

Alpha said Tuesday the cuts will take place during the end of November or early December. A total of 96 jobs will be impacted.

Paramont plans to cease operations at Deep Mine 44, 37 and 25, and reduce the workforce at Deep Mine 41 and 26, all located in Dickenson County.

The three mines set to close produced about 402,000 st though the first half of the year and 836,000 st in all of 2014. Deep Mine 44 started production in the first quarter this year.

Production at Deep Mine 41 and 26 totaled about 842,000 st through the first half of this year and 1.7 million st in all of 2014.

Alpha made drastic cuts in its Central Appalachian operation this year ahead of filing for Chapter 11 bankruptcy protection August 3. The producer declined to comment on if it will make any future mine closings or idlings as it goes through Chapter 11 reorganization.

source: http://www.platts.com