LONDON Alpha Natural Resources Inc. has idled one West Virginia metallurgical coal mine and reduced its work force at several other facilities in the state.
The Bristol, Va.-based coal producers Pocohantas Mine, operated by White Buck Coal Co., which had the capacity to produce 380,000 tons annually, was idled.
"The met coal market is currently oversupplied at a global level and prices for the (mid-volatility) specifications that Pocohantas produced have dropped dramatically," a company spokesman told AMM sister publication Steel First July 15.
The company instituted the work force reductions July 12. A total of 105 employees were affected, but the company was able to offer other job opportunities to about 80 employees.
The company still has around 50 mining facilities operating in West Virginia.
U.S. analysts had predicted in February that there would be more metallurgical coal idlings, sell-offs and closures.