Patriot Coal's Federal Mine Resumes Longwall Production
08 April 2008 - 12:05AM
PR Newswire (US)
ST. LOUIS, April 7, 2008 /PRNewswire-FirstCall/ -- Patriot Coal
Corporation (NYSE:PCX) today reported that its Federal No. 2 mine
near Fairview, West Virginia has resumed longwall production.
Longwall production at the mine was curtailed in early March
following two roof falls. "Our dedicated employees at Federal have
done a terrific job getting the longwall back up and running in a
safe and efficient manner. We are pleased that, as a result of our
strong safety culture, we experienced no injuries during this
clean-up effort, while also meeting our planned schedule," said
Patriot President and Chief Executive Officer Richard M. Whiting.
About Patriot Coal Patriot Coal Corporation (the "Company") is a
leading producer and marketer of coal in the eastern United States,
with ten company-operated mines and numerous contractor-operated
mines in Appalachia and the Illinois Basin. The company ships to
electric utilities, industrial users and metallurgical coal
customers, and controls approximately 1.3 billion tons of proven
and probable coal reserves. The company's common stock trades on
the New York Stock Exchange under the symbol PCX. Forward Looking
Statements Certain statements in this press release are
forward-looking as defined in the Private Securities Litigation
Reform Act of 1995. These statements involve certain risks and
uncertainties that may be beyond our control and may cause our
actual future results to differ materially from expectations. We do
not undertake to update our forward-looking statements. Factors
that could affect our results include, but are not limited to:
failure to obtain Company stockholder approval of the proposed
issuance of Company shares in connection with the acquisition of
Magnum Coal Company; failure to obtain, delays in obtaining or
adverse conditions contained in any required regulatory or other
approvals in connection with the acquisition; availability and cost
of financing; failure to consummate or delay in consummating the
acquisition for other reasons; changes in laws or regulations;
changes in general economic conditions, including coal and power
market conditions; the outcome of commercial negotiations involving
sales contracts or other transactions; the Company's dependence on
Peabody Energy Corporation in the near future; geologic, equipment
and operational risks associated with mining; supplier and contract
miner performance and the availability and cost of key equipment
and commodities; the Company's ability to replace coal reserves;
labor availability and relations; availability and costs of
transportation; weather patterns affecting energy demand;
legislative and regulatory developments; risks associated with
environmental laws and compliance; the outcome of pending or future
litigation; and the availability and costs of competing energy
resources. The Company undertakes no obligation (and expressly
disclaims any such obligation) to publicly update or revise any
forward- looking statement, whether as a result of new information,
future events or otherwise. For additional information concerning
factors that could cause actual results to materially differ from
those projected herein, please refer to the Company's Form 10-K and
8-K reports. DATASOURCE: Patriot Coal Corporation CONTACT: Janine
Orf of Patriot Coal Corporation, +1-314-275-3680 Web site:
http://www.patriotcoal.com/
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