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Alpha Natural idles more central Appalachian mines

May 22, 2015 2:39 PM ETAlpha Natural Resources, Inc. (ANR) StockBy: Carl Surran, SA News Editor15 Comments
  • Alpha Natural Resources (ANR -2.5%) says it is idling mining and processing operations at its Rockspring Development's Camp Creek underground coal mine and plant in West Virginia, resulting in the loss of nearly 450 jobs.
  • ANR says three other affiliated mine operators also would see workforce reductions.
  • Imperial Capital recently suggested investors sell several of ANR’s bonds, despite yields of 40% or higher, on worries that recovery in bankruptcy would be minimal.
  • Murray Energy reportedly is set to announce layoffs of ~1,800 workers at nine locations, dealing another blow to the coal mining industry in Appalachia.

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