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NERCO PLANS TO DISCONTINUE MINING AT SEQUATCHIE VALLEY COAL CORP.

NERCO PLANS TO DISCONTINUE MINING AT SEQUATCHIE VALLEY COAL CORP.
 DUNLAP, Tenn., April 28 /PRNewswire/ -- NERCO Coal Corp. today announced its plan to cease mining activities and perform final reclamation at the Sequatchie Valley Coal Mine, located near Dunlap, Tenn.
 According to Allan Massey, general mine manager of Sequatchie Valley Coal Corp., "Upon completion of coal shipments to our customers later this year, we intend to cease current mining activities and begin final reclamation work in the mined areas. Sequatchie Valley Coal has been recognized in the past by state and federal authorities for its reclamation program, and we expect to continue with this tradition."
 As a result of the decision to cease mining later in 1992, Massey said there will be a significant reduction-in-force at the mine, which currently has approximately 30 employees. "The reduction-in-force is regrettable but unfortunately required given current economic conditions and other business considerations. We are continuing to have discussions with potential buyers regarding a block of recoverable coal remaining on the mine site," according to Massey.
 NERCO Coal Corp. has owned and operated the mine since mid-1981. The mine has produced approximately 2.5 million tons of coal over this period. In 1991, the mine produced approximately 200,000 tons of coal with its major customer being the Tennessee Valley Authority.
 NERCO Coal Corp., headquartered in Portland, Ore., is a wholly owned subsidiary of NERCO Inc. (NYSE: NER, Toronto), a diversified natural resource company with interests in low-sulfur coal, oil and natural gas, and precious metals.
 -0- 4/28/92
 /CONTACT: John C. Cummings of NERCO Inc., 503-731-6649; or Allan Massey of Sequatchie Valley Coal Corp., 615-949-4698/
 (NER) CO: NERCO Coal Corp.; NERCO Inc.; Sequatchie Valley Coal Corp. ST: Oregon, Tennessee IN: MNG SU:


LM -- SE013 -- 4093 04/28/92 18:16 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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