Bowing to the pressures of the sluggish market demand for coal, Patriot Coal Corporation (NYSE:PCX) decided to lower the production of thermal coal. As a result, the company’s Freedom underground mine will remain idle. The mine, located in the Bluegrass complex in Illinois Basin, had produced 1.2 million tons of thermal coal in 2011.
Subsequent to the production cut, there will be no uncommitted Illinois Basin thermal coal delivery for Patriot Coal in 2012. Idling of Freedom underground … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards