The Berwind mine will continue to run at a reduced rate to service existing customer commitments.
Approximately 44 miners will be impacted. (Credit: nedu503/Pixabay )
Ramaco Resources announced today a partial closure of its Berwind low volatile development mine complex on the border of Virginia and West Virginia. Ramaco has taken this reduction measure to align current production to the weakened metallurgical coal market.
Approximately 44 miners will be impacted. These personnel reductions are effective immediately.
“The continued deterioration of both the domestic and export metallurgical coal markets, driven in large part by the COVID-19 pandemic have led us to make this difficult decision,” said Randall Atkins, Ramaco’s Executive Chairman. “We remain committed to the completion of our Berwind slope development to full capacity when the market has more clarity. We want to recognize the efforts of all of our coal miners who have advanced this project to date.”
“We believe that ultimately the Berwind mine will be amongst the lowest cost, high-quality low volatile coal in the Central Appalachian region,” said Michael Bauersachs, CEO and President of Ramaco. “Once the coal markets stabilize and return to rational pricing levels, the full development and production at the Berwind mine can be restarted.”
The Berwind mine will continue to run at a reduced rate to service existing customer commitments.
Source: Company Press Release