Foundation Coal Cuts 60 Jobs, Production in W.Va.

By: Associated Press Email
By: Associated Press Email

Charleston, W.Va. (AP) -- Foundation Coal says it's laid off 60 miners and trimmed production at four southern West Virginia mines.

Chief Executive James Roberts blames declining prices and demand for the cuts in a regulatory filing Friday.

Foundation didn't specify how much production will be reduced, but Roberts says the company is sticking by earlier guidance that it expects to ship between 70 million and 73 million tons of coal this year.

The cuts target Foundation's Kingston no. 1 and no. 2 underground mines and Pax and Paynter Branch surface mines.

Linthicum Heights, MD.-based Foundation recently agreed to a $1.4 billion takeover offer from Abingdon, Va.-based rival Alpha Natural Resources. Combined, the companies would have 59 mines in West Virginia, Virginia, Pennsylvania, Kentucky and Wyoming.

(Copyright 2009 by the Associated Press. All rights reserved.)

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