Tuesday, September 4, 2012

Consol Slowing Down Production

Consolidation Coal announced Tuesday its plans to idle part of its operations at the company's Amonate Mining complex in McDowell County and at its Buchanan mine in nearby Virginia. Consol officials say they're concerned about the reduced demand for steel on the global market. Both mines are longwall operations and produce metallurgical coal used in steel making. The Amonate mine produced 300-thousand tons of metallurgical coal in 2011. Consol says the idlings could last up to two months and reduce metallurgical coal production by 870-thousand tons. More than 600 workers will lose their jobs temporarily at the Buchanan mine. The company's workforce at Amonate is contracted. Consol hasn't yet decided if it will partially or fully idle the McDowell County operation. It expects to reach that decision and announce a date soon.