ABC Money
Home

W.Va. Sago Mine where 12 died is idled


Published :
Wed, 21 Mar 2007 17:06
By : Agencies
Print this Story


AddThis Social Bookmark Button

CHARLESTON, W.Va. (AP) - The owner of the Sago Mine, where 12 men died after an explosion last year, said Wednesday it has idled the coal operation because of high production costs and weak prices.

International Coal Group Inc. spokesman Ira Gamm described the shutdown as a purely business decision.

'No other factors are involved,' he said. 'This was a business decision, part of our ongoing evaluation of our operations.'

The Sago Mine became the focus of national attention for two days in January 2006 after a methane gas explosion trapped a team of miners deep inside its shafts. By the time searchers reached the team 40 hours later, only one man had survived the carbon monoxide gases.

It was the highest-profile coal mining accident in recent U.S. history and led to sweeping changes in federal and state mine safety laws.

Gamm said the company could reopen the mine if prices rebound.

'I want to emphasize 'idled,' not closed,' he said. 'A small crew remains employed at Sago to maintain the mine infrastructure.'

ICG has cut the number of underground workers at the mine from 90 last July to 44 at the end of 2006, according to the federal Mine Safety and Health Administration.

'The remaining Sago Mine workers have been offered employment' at other ICG mines, Gamm said. The company's Imperial and Sentinel Clarion mines are located near Sago.

The Scott Depot-based coal company idled several mines in September and has cut back in recent months on plans for developing new mines.

The likes of Richmond, Va.-based Massey Energy Co. and Pittsburgh-based Consol Energy have idled mines recently as well in response to weak coal prices and high costs for diesel fuel, explosives and labor.

Sago produced 323,000 tons of coal last year, but Gamm said the mine had run into tough geological conditions. 'It wasn't roof falls. It was more in terms of amount of yield,' he said. 'It's a percentage of coal versus a percentage of rock that you mine.'

Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.




Share on


 You Might Like
ICG idles Sago Mine due to high costs
Sago relatives praise union blast theory
+
ICG orders mine shelters
UMW: Roof friction caused Sago blast

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.