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BETHLEHEM STEEL ANNOUNCES SALE OF PENNSYLVANIA COAL MINE AND RESERVES

 BETHLEHEM, Pa., Dec. 31 /PRNewswire/ -- Bethlehem Steel Corporation (NYSE: BS) today announced the sale of certain of its coal reserve properties located in Washington County, Pa., and the sale by its subsidiary, BethEnergy Mines Inc., of its interests in Mine No. 84 near Washington, Pa., to subsidiaries of Rochester & Pittsburgh Coal Company, headquartered in Indiana, Pa.
 Bethlehem Steel announced last year its intention to sell most of its coal operations, reserves and other holdings as part of its previously stated policy of divesting itself of assets not directly related to the company's core steel business. Bethlehem subsequently announced in July that it had signed a letter of intent to sell Mine No. 84 and certain coal reserve properties to Rochester & Pittsburgh Coal Company.
 In 1991, Mine No. 84 shipped approximately 1.7 million tons of metallurgical and steam coal. Coal production was reduced in 1992 due to business conditions and operating performance. Consequently, employment levels have been reduced from about 470 employees in July of this year to about 175 employees currently.
 Mine No. 84 is being sold as an on-going business. The Pennsylvania coal reserves encompass about 25,000 acres. Rochester & Pittsburgh Coal Company officials have previously indicated that the transaction is consistent with their company's strategy to expand their business and they anticipate that the extensive reserve will support development of a new mine for future growth.
 /delval/
 -0- 12/31/92
 /CONTACT: H.H. Von Spreckelsen, manager, corporate communications, of Bethlehem Steel, 215-694-3711/
 (BS)


CO: Bethlehem Steel Corporation; BethEnergy Mines Inc.; Rochester &
 Pittsburgh Coal Company ST: Pennsylvania IN: MNG SU:


MJ-JS -- PH010 -- 0864 12/31/92 11:02 EST
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Publication:PR Newswire
Date:Dec 31, 1992
Words:272
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