Patriot Coal To Close Mine In West Virginia

The fourth largest U.S. coal mining corporation, Patriot Coal Corporation, announced today that it has closed its Harris No.1 mine in West Virginia.  According to Bloomberg Businessweek, the move will cost upwards of 175 jobs.  The company’s stock fell by 15 percent upon the announcement.

The mine has been closed, according to company sources, due to “sudden adverse geologic conditions”.  It suffered a roof collapse on June 12 that shut down its primary conveyor belt and caused significant collapse of the mine entrance.  Despite the sudden closure, the mine was rapidly approaching its projected life and was scheduled for shut down some time in 2011.