Tags: Peabody | Indiana | Coal | Mine

Peabody to Close Indiana Coal Mine on ‘Soft’ Market Conditions

Thursday, 06 September 2012 08:34 AM

Peabody Energy Corp. will permanently close its Air Quality Mine in Vincennes, Indiana, because of “soft” conditions that make operations uneconomic.

Peabody expects to incur a one-time charge of $75 million in the third quarter related to the writedown of assets, according to a statement today.

The mine produced 1.2 million tons of low sulfur coal in 2011, according to the statement. The mine supplies power plants and industrial customers in Indiana and Illinois, according to the company’s website.

© Copyright 2018 Bloomberg News. All rights reserved.

1Like our page
Thursday, 06 September 2012 08:34 AM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved