PITTSBURGH, Pa. – CONSOL Energy Inc. (NYSE: CNX) has announced it will temporarily idle its Twin Branch surface operations, near Naugatuck, W. Va., in an effort to balance inventory with coal shipments.
Company officials began meeting with employees on Friday to notify them of plans to idle the operation. A total of 88 employees will be impacted. Twenty-eight employees at Twin Branch will not be impacted by the idle and will remain on site to perform routine maintenance. The preparation plant at Miller Creek will not be impacted. The Twin Branch operations are part of CONSOL Energy’s Miller Creek Complex.
“These decisions are always difficult due to the impact on our employees, but I want to stress that this is a short term and prudent response intended to balance the current state of inventory with shipment schedules,” said Brett Holbrook, CONSOL Energy vice president of Central Appalachia operations. “The exceptionally warm December weather impacted our customers’ ability to accept previously contracted shipments of coal. This is a temporary measure designed to better sync delivery schedules with weather conditions and resulting inventory levels.”
Holbrook said CONSOL will continue to monitor shipment schedules and inventory levels to determine when it is appropriate to restart operations.
Miller Creek produced 2.1 million tons of coal in 2015. CONSOL Energy operates the Miller Creek complex through its CONSOL of Kentucky, Inc. subsidiary.
(CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of natural gas and coal. The company is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. CONSOL Energy deploys an organic growth strategy focused on rapidly developing its resource base. As of December 31, 2014, CONSOL Energy had 6.8 trillion cubic feet equivalent of proved natural gas reserves. The company’s premium coals are sold to electricity generators and steel makers, both domestically and internationally. CONSOL Energy is a member of the Standard & Poor’s 500 Equity Index. Additional information may be found at www.consolenergy.com.)