Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 February 5, 2016 - 12:41 PM EST
Print Email Article Font Down Font Up
Alliance lays off 200 at Hamilton County coal mine

Feb. 05--Alliance Resource Partners LP said Friday it laid off about 200 people from its Hamilton County coal mine, about 100 miles east of

St. Louis

A statement from Alliance Resources said the layoffs would be temporary and were "a result of weak power demand, persistently low natural gas prices, an oversupplied coal market, and overreaching regulations."

The company said layoffs at the mine, just east of

Mt. Vernon
, should be lifted in the third quarter of 2016.

A former miner who asked that his name not be used said the layoffs came "out of nowhere" for the mine's roughly 470 employees, who were told Friday morning. Workers weren't given adequate notice or a severance package, he said, and he worries the company "is just telling us what we want to hear" and won't hire the workers back.

"I understand it from the company's point of view, I just don't agree with the way they're doing it," the miner said.

Alliance said it would also lay off about 35 people from its Pattiki mine in

White County, Ill.
Alliance previously announced it would shutter a
mine this quarter, and it may close another
mine depending on market conditions.

Jacob Barker -- 314-340-8291

@jacobbarker on Twitter


(c)2016 the St. Louis Post-Dispatch

Visit the St. Louis Post-Dispatch at

Distributed by Tribune Content Agency, LLC.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

Source: News (February 5, 2016 - 12:41 PM EST)

News by QuoteMedia