In the latest sign of a softening market for coal, Alpha Natural Resources is idling most of its mines in Virginia and Kentucky for a week in April. Jenay Tate of The Coalfield Progress in Norton, Va., reports, "The move is driven by growing stockpiles of coal in the wake of dwindling demand from electric utilities and steel producers, company officials say."
“We have nowhere to put the coal,” Alpha spokesman Ted Pile told the Progress. The move will affect 1,280 employees in Virginia and 354 in Kentucky. It includes seven underground mines, three strip mines and three preparation plants operated by Paramont Coal Co. and D-R Coal Co. in Virginia and Enterprise Mining Co. in Kentucky. (Read more; subscription required)
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