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July 8, 2015 By
- – When West Virginia-based Patriot declared bankruptcy, the race was on to see who will snap up their assets. Early in June, they announced that they would be teaming up with Blackhawk Mining LLC on a $643 million bid. As of the time of this writing, the deadline for competing offers has not yet passed. Since, in addition, a judge would need to approve the final sale, the question remains open for now.
- – Unfortunately, in late May, 1,417 workers for Murray Energy Corps and 439 from Alpha were laid off from coal mines in West Virginia. According to sources inside, leaders blame competition and tougher regulations contributing to a 10 percent fall in oil prices in the past year.
- – Beginning June 2, all mining equipment operated underground in West Virginia must comply with new safety regulations. The new rules raise standards for who is eligible to operate such equipment, requires more frequent inspections, and calls for more foreman supervision. It is hoped that these new regulations will prevent accidents and ensure a higher level of employee safety.
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