Patriot Coal's Federal Mine Resumes Operation
03 März 2010 - 11:15PM
PR Newswire (US)
ST. LOUIS, March 3 /PRNewswire-FirstCall/ -- Patriot Coal
Corporation today reported that its Federal No. 2 mine near
Fairview, West Virginia has resumed operation. The Company's
enhanced ventilation plan has been implemented following approval
from the U.S. Department of Labor, Mine Safety & Health
Administration. Production at the mine was suspended on February
18. "Our team has worked hard to successfully address MSHA's
concerns and implement this enhanced ventilation plan. We are
pleased that the Federal mine has resumed operation in a relatively
short period of time," said Patriot Chief Executive Officer Richard
M. Whiting. "Maintaining a safe work environment for our employees
has been our overarching goal as we suspended production and now
reopen the mine. Consistent with our mission statement, safety will
continue to be our highest priority and the cornerstone of our
relationship with our employees." About Patriot Coal Patriot Coal
Corporation is a leading producer and marketer of coal in the
eastern United States, with 14 current mining complexes in
Appalachia and the Illinois Basin. The Company ships to domestic
and international electric utilities, industrial users and
metallurgical coal customers, and controls approximately 1.8
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
presentation 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: price volatility and demand, particularly in higher
margin products; geologic, equipment and operational risks
associated with mining; changes in general economic conditions,
including coal and power market conditions; the availability and
costs of competing energy resources; legislative and regulatory
developments; risks associated with environmental laws and
compliance; developments in greenhouse gas emission regulation and
treatment; coal mining laws and regulations; labor availability and
relations; changes in postretirement benefit obligations; changes
in contribution requirements to multi-employer benefit funds;
reductions of purchases or deferral of deliveries by major
customers; availability and costs of credit; customer performance
and credit risks; inflationary trends; worldwide economic and
political conditions; downturns in consumer and company spending;
supplier and contract miner performance and the availability and
cost of key equipment and commodities; availability and costs of
transportation; the Company's ability to replace coal reserves; the
outcome of commercial negotiations involving sales contracts or
other transactions; our ability to respond to changing customer
preferences; failure to comply with debt covenants; the outcome of
pending or future litigation; the effects of mergers, acquisitions
and divestitures; and weather patterns affecting energy demand. 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 Form 10-Q
reports. DATASOURCE: Patriot Coal Corporation CONTACT: Janine Orf
of Patriot Coal Corporation, +1-314-275-3680,jorf@patriotcoal.com
Web Site: http://www.patriotcoal.com/
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