MARKETS

Four more James River Coal mines close

A WIDENED third-quarter net loss was not the only bad news James River Coal had to divulge on Thu...

Donna Schmidt
Four more James River Coal mines close

The impacted mines include two underground surface operations at its Buckeye complex in Knott County, which in part includes the Leeco and Blue Diamond mines.

“We expect the Buckeye complex, which produced 1 million tonnes in the first nine months of 2013, to restart in 2014 depending on market conditions,” officials revealed.

A copy of the worker adjustment and retraining notification obtained by local news station WYMT was vague.

“After evaluating the demand and projected market for our coal, James River Coal Service must idle its production … the anticipated return to work date is unknown at this time.”

James River’s total closures now number seven.

It idled production at three mines in West Virginia in September, sending more than 525 miners to the unemployment line beginning this quarter.

Kentucky state Governor Steve Beshear said it could change the state’s industry.

“Coal is going to be a vital part of this region for years and years to come,” he told WYMT.

“But with the economy the way it is, the regulation the way it is, we're probably never going to employ the number of people we have in the past.”

Beshear cited strict new US Environmental Protection Agency regulations on power plants as having a great impact on the coal industry and said he had spoken up about his concerns.

“The current EPA administrator said that she would sit down with us on this rule coming out about existing power plants and look at taking a different approach than they took on the rule on new power plants,” Beshear told the station.

“So the proof will be in the pudding.”

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Monthly Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Magazine Intelligence Exploration Report 2024 (feat. Opaxe data)

A comprehensive review of exploration trends and technologies, highlighting the best intercepts and discoveries and the latest initial resource estimates.

editions

Mining Magazine Intelligence Future Fleets Report 2024

The report paints a picture of the equipment landscape and includes detailed profiles of mines that are employing these fleets

editions

Mining Magazine Intelligence Digitalisation Report 2023

An in-depth review of operations that use digitalisation technology to drive improvements across all areas of mining production