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ANKER COAL SHUTS DOWN TWO MINES.

Morgantown, W.Va.-based Anker Coal Group has temporarily shut down its Spruce Fork No. 2 mine in Upshur County and its Sentinel mine in Barbour county, idling a total of 190 miners.

Anker Spokesperson Jack Teitz said the company expects to resume operations at both mines by fall.

Meanwhile, Anker Coal is negotiating a new plan on interest and principal payments for outstanding bond obligations.

Teitz said the company missed an April payment of $6.6 million to its bond holders.

"We hope to be able to come up with an economic model that's viable," he said.

"That depends on market conditions and mining conditions," Teitz said.

According to company officials, Anker Coal's other mines in Maryland and Pennsylvania will continue to operate at current levels.

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Title Annotation:operations at both mines to resume by fall
Comment:ANKER COAL SHUTS DOWN TWO MINES.(operations at both mines to resume by fall)
Publication:Coal Age (1996)
Article Type:Brief Article
Geographic Code:1USA
Date:Jul 1, 2002
Words:127
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