Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Patriot Coal to Cut Production of Steelmaking Coal

Sept. 14 (Bloomberg) -- Patriot Coal Corp., the U.S. mining company that’s reorganizing under bankruptcy protection, said it would temporarily idle mines to cut 85,000 tons of output per month for an indefinite period.

Production of metallurgical coal will be cut at the Kanawha Eagle, Rocklick and Wells mines in southern West Virginia, St. Louis-based Patriot said in a statement today. The company said 250 employee and contractor positions will be “impacted” by the actions.

“These actions are designed to bring our production in line with expected sales and focus capital resources on our lowest cost operations as we proceed with our reorganization,” Chief Operating Officer Bennett K. Hatfield said in the statement.

Patriot filed for bankruptcy in July, saying milder winters and a shift to natural gas sent demand for coal to a 24-year low.

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.