COAL: Walter Energy to close three mines in BC

BRITISH COLUMBIA – Walter Energy of Birmingham, AL, has announced plans to close two of its coal mines in British Columbia due to low coal prices and soft markets. The Wolverine mine at Tumbler Ridge will be closed immediately, idling about 415 employees. The Brazion operation (the Brule and Willow Creek coal mines) at Chetwynd will be shut by July, putting another 280 people out of work.

The wash plants at both these locations will continue to operate until existing inventory is processed.

The company said it will incur severance charges of roughly $7 million in Q2 2014 due to the Canadian mine closures.

Please see WalterEnergy.com.