https://www.engineeringnews.co.za

Bankrupt US coal producer closes four mines after prices slump

9th October 2019

By: Bloomberg

  

Font size: - +

NEW YORK – Blackhawk Mining, a bankrupt US coal producer, closed four West Virginia mines after prices neared a three-year low.

The closures will affect about 340 employees at three mines and two preparation facilities Blackhawk owns, as well as workers at a contract mine in the region, according to a statement Tuesday from the closely held Lexington, Kentucky-based company.

Blackhawk primarily sells coal used to make steel, which has plunged almost 25% in value since May as the global economy cooled and demand for the metal declined. It’s at least the fourth US coal company to idle some operations since July, including Murray Energy Corp., which closed three West Virginia sites last month.

Blackhawk filed for Chapter 11 protection in July, and may exit from bankruptcy as early as this month.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.056 0.37s - 140pq - 2rq
Subscribe Now