Alpha messages $70.2 million loss in November, cuts even more CAPP coal production
Alpha Natural Resources has cut more coal manufacturing after uploading a $70.2 million bottom line in November as it proceeds reorganizing through Chapter 11 personal bankruptcy.
In court documents submitted Friday, the Bristol, Virginia-based manufacturer reported $175 million in coal profits for November, with operating losses of $70.7 million.
In October, the firm reported $184.8 million in coal earnings, with operating losses of $58.7 million.
Aluminum demand in US, Canada up 0.7% through March to date, Alpha reported $2.43 billion in coal profits, $1.29 billion in operating losses and a net loss of $1.4 billion.
Alpha, which filed for Chapter 11 security in August, is also reducing extra Main Appalachian coal manufacturing. The business had actually decreased its CAPP procedure ahead of declare insolvency and also on Friday gave up employees at 5 thermal as well as metallurgical coal mines in West Virginia and Virginia.
In West Virginia, 66 workers were given up at Marfork Coal's Slip Ridge as well as Ellis Eagle mines in Raleigh Area, as well as 72 employees lost jobs at Elk Run Coal's Seng Creek as well as Shonk mines in Boone Region.
Alpha stated an area at each mine will be closed, yet production will proceed at a lowered price.
The Seng Creek as well as Shonk mines generate metallurgical coal, while Slip Ridge as well as Ellis Eagle create high-vol A coal largely used as a thermal blender or food processor, the company claimed.
According to Mine Security and also Health and wellness Management data, Seng Creek and also Shonk created a mixed 832,208 st through three quarters this year and also 979,068 in all of 2014, as well as Slip Ridge and also Ellis Eagle generated a consolidated 630,818 st via 3 quarters this year and 957,780 st in all of 2014.
Alpha on Friday also gave up 35 employees at Knox Creek's Tiller No. 1 thermal mine in Tazewell County, Virginia, and also idled manufacturing. The firm in September issued a WARN notice in advance of the anticipated idling.
Tiller produced 342,187 st via 3 quarters this year and also 551,400 st in all of 2014.
The Tiller mine is one 34 assets Alpha is currently looking to market during its Chapter 11 reorganization. The business has established a bidding process due date for its properties of January 20, with a public auction day, if needed, of January 27.
In court documents submitted Friday, the Bristol, Virginia-based manufacturer reported $175 million in coal profits for November, with operating losses of $70.7 million.
In October, the firm reported $184.8 million in coal earnings, with operating losses of $58.7 million.
Aluminum demand in US, Canada up 0.7% through March to date, Alpha reported $2.43 billion in coal profits, $1.29 billion in operating losses and a net loss of $1.4 billion.
Alpha, which filed for Chapter 11 security in August, is also reducing extra Main Appalachian coal manufacturing. The business had actually decreased its CAPP procedure ahead of declare insolvency and also on Friday gave up employees at 5 thermal as well as metallurgical coal mines in West Virginia and Virginia.
In West Virginia, 66 workers were given up at Marfork Coal's Slip Ridge as well as Ellis Eagle mines in Raleigh Area, as well as 72 employees lost jobs at Elk Run Coal's Seng Creek as well as Shonk mines in Boone Region.
Alpha stated an area at each mine will be closed, yet production will proceed at a lowered price.
The Seng Creek as well as Shonk mines generate metallurgical coal, while Slip Ridge as well as Ellis Eagle create high-vol A coal largely used as a thermal blender or food processor, the company claimed.
According to Mine Security and also Health and wellness Management data, Seng Creek and also Shonk created a mixed 832,208 st through three quarters this year and also 979,068 in all of 2014, as well as Slip Ridge and also Ellis Eagle generated a consolidated 630,818 st via 3 quarters this year and 957,780 st in all of 2014.
Alpha on Friday also gave up 35 employees at Knox Creek's Tiller No. 1 thermal mine in Tazewell County, Virginia, and also idled manufacturing. The firm in September issued a WARN notice in advance of the anticipated idling.
Tiller produced 342,187 st via 3 quarters this year and also 551,400 st in all of 2014.
The Tiller mine is one 34 assets Alpha is currently looking to market during its Chapter 11 reorganization. The business has established a bidding process due date for its properties of January 20, with a public auction day, if needed, of January 27.
