CONSOL Energy Inc. (CNX: Quote) announced, it will temporarily idle its Buchanan Mine in southwestern Virginia, effective immediately. The company will also idle at least a portion of the Amonate Mining Complex in southern West Virginia. The longwall mine and Amonate produce metallurgical grade coal used in steelmaking.
The idlings are expected to last for 30 to 60 days. Buchanan Mine has about 620 production and maintenance employees, most of whom will be furloughed. Amonate's workforce is contracted.
The idlings are in response to the weak market conditions throughout the company's export markets in Asia, Europe, and South America.
Click here to receive FREE breaking news email alerts for CONSOL Energy Inc. and others in your portfolio
by RTT Staff Writer
For comments and feedback: firstname.lastname@example.org