It continues a review of strategic options
Patriot Coal Corp., the producer of the fuel that emerged from bankruptcy a year ago, said it would idle mines in western Kentucky and weigh the future of the facilities as it continues a review of strategic options.
The Highland Mine near Henderson and the Dodge Hill Mining Complex near Sturgis will cease coalproduction tomorrow, the company said today in a prepared statement.
Workers at those facilities had been told earlier this month that the St. Louis-based company may make “substantial” job cuts. The Kentucky operations employ about 670 people and last year produced 3.9 million tons of thermal coal, which is used to generate electricity. Thermal coal prices in the U.S. have slumped in the past three years as some power utilities switch to cheaper natural gas.
The Heritage preparation plant and barge loading terminal on the Ohio River are slated to continue processing and shipping coal from on-site stockpiles, the company said.