October 29, 2009
ICG blames Allegheny Energy for Harrison mine closure
Advertiser

CHARLESTON, W.Va. -- International Coal Group has taken the unusual step of publicly blaming a customer for forcing the shutdown of a mine.

ICG chief executive Ben Hatfield told analysts Thursday that electric utility Allegheny Energy's decision to delay deliveries in the third quarter idled ICG's Sycamore mine in Harrison County.

Greenburg, Pa.-based Allegheny spokesman Allen Staggers blames high coal inventories due and says his company has acted in accordance with all its contracts.

ICG says it mentioned Allegheny because the deferrals were the largest it has experienced recently and idled a mine. While other buyers delayed taking coal, ICG says it was appropriate to name Allegheny as an update to investors.

ICG and Allegheny are embroiled in a long-running lawsuit over the Sycamore contract.

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Posted By: jkotcon (7:16am 10-30-2009)
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On Wednesday, this paper reported that ICG profits doubled in the third quarter. The next day they lay off miners and blame "market conditions" or their own customers. ICG now follows the Massey tradition of sacrificing workers jobs in order to boost profits, and want to distract attention from their own greed. Surely those miners could be doing some mineland reclamation somewhere while they wait for market conditions to improve. That would keep our economy stronger, benefit the environment, and be a huge boost to coal industry public relations. Instead, they stab the workers in the back for the sake of the next quarter's profits.

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