SIDNEY RESOURCES CUTS PRODUCTION.
Massey Energy Inc., blaming tight market conditions and a reduced demand for coal, announced layoffs and production cutbacks in mid-January at its Sidney Resources subsidiary in Pike County, Ky.
Company Spokesperson Jeff Gillenwater said that "just over" 100 employees were laid off at Sidney Resources, which includes the Rockhouse mine and Freedom Energy Group. One continuous miner section was shut down at Rockhouse while Freedom Energy has been curtailed from a 7-day-a-week operation to five days a week. "It's all market driven," Gillenwater said of the cutbacks. Among other factors, he said competition from natural gas is negatively affecting coal demand. Richmond, Va.-based Massey, which employs a total of 4,500 employees, may not be done making cuts. "We're still looking at various areas," Gillenwater said, declining to elaborate.