Cliffs Natural Resources has issued a 60-day WARN layoff notice about the possible idling of the Pinnacle mine, a longwall-equipped operation that produces metallurgical coal in Wyoming County, W.Va.
Said in the company in a June 25 SEC filing: “On June 25, 2014, Cliffs Natural Resources Inc. (the ‘Company’) issued a Worker Adjustment and Retraining Notification (‘WARN’) Act notice (the ‘Notice’) to all employees of Pinnacle Mining Company, LLC, a wholly-owned subsidiary of the Company (‘Pinnacle’), the United Mine Workers of America and state and local government agencies, that it intends to temporarily idle its operations at the Pinnacle mine as a result of current poor market conditions for metallurgical coal. The Notice begins the 60-day notice period that must be given prior to temporarily idling operations under the WARN Act. If market conditions do not improve, it is expected that the idling of the Pinnacle mine could last more than six months beginning on or about August 25, 2014.”
U.S. Mine Safety and Health Administration data shows that the Pinnacle mine, which works the Pocahontas coal seam, produced 558,289 tons of coal in the first quarter of this year and 2.8 million tons in all of 2013.