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Troublesome mines force Consol to cut guidance

GEOLOGICAL conditions at several mines resulting in falls on major beltlines during the high humi...

Angie Tomlinson
Troublesome mines force Consol to cut guidance

For the quarter just ended Consol mines produced 15.3 million tons – against a guidance of 16.1-17.1Mt issued late July.

The company, however, is reiterating production guidance for its fourth quarter ending December 31, 2006 to be 17-18Mt.

The company's full-year production is now expected to be in the range of 68.5-69.5Mt, compared with earlier guidance of 69.3- 71.3Mt.

Consol said as of the start of the fourth quarter, affected mines have returned to expected production levels.

The company also elected to reduce production at its Jones Fork and Mill Creek mines in Kentucky because of soft market conditions.

Consol expects to report third quarter 2006 results before the stock market opens on Thursday, October 26.

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