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Alliance Resource Partners Gibson County Coal Issues WARN Act Notice to 185 Miner

Coal News - Published on Mon, 18 Nov 2019

Image Source: arlp.
Alliance Resource Partners LP announced that its subsidiary Gibson County Coal LLC has issued Workers Adjustment and Retraining Notification Act notices to approximately 185 of its employees as a result of idling production at the Gibson North mine.

Mr Joseph W Craft III, Chairman, President and Chief Executive Officer, said "A substantial portion of production from the Gibson Complex has been dedicated to supplying the international coal markets. The export markets have deteriorated over the last seven months and have contributed to an over-supplied domestic market. Although we anticipate coal markets will improve, predicting when a rebound may occur is difficult and led to our actions today. Until conditions improve, this production response at the Gibson North mine allows ARLP to adjust volumes from the Gibson Complex to meet current demand expectations at the lowest cost possible. While market conditions made this decision necessary, we deeply regret the impact of this action on our employees, their families and their communities."

The Gibson North mine produced this year approximately 1.7 million tons of coal through October 31, 2019. ARLP does not expect the idling of Gibson North to have any impact on its previously announced earnings guidance provided in its October 28, 2019 Press Release, including 2019 full-year ranges for coal production of 40.1 to 40.4 million tons and coal sales volumes of 39.1 to 39.5 million tons.

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Posted By : Yogender Pancholi on Mon, 18 Nov 2019
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