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CONSOL Energy Restarts Idled Longwalls in U.S.
- Created on Friday, 11 May 2012 17:28
CONSOL Energy announced it will re-start the longwall at its Blacksville mine on May 1.
“The company has largely concluded negotiations with thermal coal customers concerning deferred shipments, enabling us to resume our thermal guidance for the second quarter and beyond,” said Brett Harvey, chairman and CEO, CONSOL Energy. “A similar situation exists in the coking coal markets, where overseas steelmakers have been taking advantage of a lull in the strong longer term market to pressure coal producers into accepting prices lower than the benchmark.”
CONSOL idled its longwall at Buchanan, effective March 9, in an effort to refrain from selling its premium hard coking coal at a discount. As a result of extensive negotiations, CONSOL has now come to terms with its customers and, as a result, will re-start the longwall at Buchanan also.