BRISTOL, Va., Jan. 30, 2015 /PRNewswire/ -- Two operating
affiliates of Alpha Natural Resources, Inc. (NYSE: ANR) have
notified their employees today that certain West Virginia coal mines are being idled due
to sustained weak market conditions and federal government
regulations that have challenged the entire Central Appalachian
mining industry.
In accordance with the Worker Adjustment and Retraining
Notification (WARN) Act, notice has been given to
approximately 91 Highland Mining Company employees, advising them
of the expected idling of Highland Mining's Superior, North, and
Trace Fork surface mines, and a
reduction in workforce at its Reylas and Freeze Fork surface
mines. The affected mines are located in Logan and Mingo Counties, West Virginia. In
addition, seven workers with Rum Creek Coal's Anna Branch reclamation unit, working at the
affected mines, will also be displaced.
Approximately 25 percent of the affected workers will continue
to perform reclamation work as three of the operations wind down to
an idle state. The mine idlings and workforce reduction are
expected to be completed by mid-April.
These actions are being triggered by persistent weakness in U.S.
and overseas coal demand and depressed price levels, along with
regulatory pressures contributing to the premature retirement of
coal-fired power plants across the nation. Excess supply of
coal worldwide also has contributed to falling coal prices.
Alpha Chairman and CEO Kevin
Crutchfield emphasized the continued need to adjust to
challenged market conditions. "We made a short term decision in
November to keep these mines operating as existing coal supply
contracts were being fulfilled," Crutchfield said.
"Unfortunately, despite the hard work of these operations to reduce
costs in this unprecedented business climate, prices remain
depressed and current coal supply simply exceeds demand."
The mines that are being idled produced 1.5 million tons of
thermal coal in 2014.
"These actions are consistent with steps that we've taken in the
past to build a smaller but more sustainable portfolio of mining
assets across our operational footprint," Crutchfield added. "We
are confident that a portion of the displaced miners will be able
to fill available positions at other Alpha-affiliated mines."
About Alpha Natural Resources
Alpha Natural Resources
is one of the largest and most regionally diversified coal
suppliers in the United States.
With affiliate mining operations in Virginia, West
Virginia, Kentucky,
Pennsylvania and Wyoming, Alpha supplies metallurgical coal to
the steel industry and thermal coal to generate power to customers
on five continents. Consistent with its Running Right
process, Alpha is committed to being a leader in mine safety and an
environmental steward in the communities where its affiliates
operate. For more information, visit Alpha's website
(www.alphanr.com).
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SOURCE Alpha Natural Resources, Inc.