Bluefield Daily Telegraph, Bluefield, WV

Virginia State News

March 7, 2013

James River Coal idling mines, reducing production

RICHMOND, Va. —  James River Coal Co. is idling mines and reducing coal production by 3 million tons in response to weak demand.

The Richmond-based company mines thermal coal used for power generation and metallurgical coal that’s used to produce steel. It has operations in Kentucky, West Virginia and Indiana.

In reporting a fourth-quarter loss Thursday, James River said it has idled five underground mines, two preparation plants and one load-out facility. It also has reduced production at three surface mines.

The company says the moves impact about 400 employees and contractors.

Coal producers are being hit by a double whammy of weak demand. Utilities need less coal to produce electricity because of mild weather and lower power generation, while construction overseas has slowed the appetite for coal to make steel.

1
Text Only
Virginia State News
West Virginia State News
AP Video
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Sister Newspapers' News