Patriot Coal to idle West Virginia thermal coal complex

|About: Patriot Coal Corp. (PCXCQ)|By:, SA News Editor

Patriot Coal (PCXCQ.OB) plans to idle its Logan County thermal coal complex in West Virginia, reducing eastern U.S. thermal coal production by ~2M tons/year.

Despite progress in the company's reorganization, thermal coal markets are extremely weak and prices have fallen well below production costs at many Central Appalachian mines, Patriot CEO Bennett Hatfield says.