More bad news for coal miners on our region. The AP reports that the Kentucky-based Rhino Resource Partners gave 60-day notices to 192 employees that they may be laid off. The company says the move is necessary because of “ongoing weakness in the coal markets,”
The notice went out to workers at three mining operations in West Virginia and Eastern Kentucky: The Tug River, Rob Fork, and Deane mining complexes.
The company’s CEO had this to say:
“We are taking difficult actions that are necessary due to the persistent weakness in the coal markets. Demand for Central Appalachia steam coal has fallen to unprecedented levels as utilities choose low-priced natural gas for electricity generation and other coal-fired capacity is shuttered due to governmental regulations. Met coal prices remain at depressed levels due to persistent worldwide oversupply and weak demand from China.”