Company officials said July 27 that production at the Oaktown complex in Knox County will be ramped up while production at sister mine Carlisle, which neighbors it in Sullivan County, will be decreased.
As a result, a “large number” of workers will transfer from Carlisle to Oaktown, and another 175 furloughed entirely: 103 at Oaktown, 49 at Carlisle and four at the low-sulfur Ace in the Hole mine near Clay City.
“For the next couple of years, we expect Oaktown to represent more than 90% of our production,” the company said, adding that all impacted mines will continue coal production.
Denver-based Hallador has cited mild weather and low prices for high supplies of natural gas for its decision, and noted that it agreed to the contract modifications in order to assist with customers’ respective balances at the current level as well as to secure long-term fuel supplies.
The producer has set its Q2 2015 financial results conference call for August 11 at 1 p.m. Eastern Standard Time.
