Tagged: Alpha Natural Resources

Coal company Alpha Natural Resources announced today it will idle four underground mines in Harlan and Letcher counties. Two hundred miners will lose their jobs, while about sixty people will be moved to other positions or other mines.

Alpha Natural Resources--a coal company with mines in eastern Kentucky, as well as throughout Appalachia--reported its second quarter earnings this morning and the news wasn't good.

The company had a net loss of $2.2 billion in the second quarter of 2012. That compares to a $50 million loss for the same period last year.

From the company's announcement:

One of the nation’s largest coal companies has announced it will be closing several mines and preparation plants in Eastern Kentucky.

Alpha Natural Resources will stop mining coal at four mines in Martin and Pike counties and idle two preparation plants. The company has enough jobs at other locations to reassign 286 employees, but about 150 will lose their jobs.

Alpha spokesman Ted Pile says the move is necessary.