Most Active Stories
- Poll Shows Major Support for Medical Marijuana in Kentucky
- MSU's Dunn Selected to be Youngstown State's Next President
- Boating Accident on Kentucky Lake Kills Fisherman
- Recurring Trials for an Iranian Family – A Microcosm of the Persecution of the Baha’is in Iran
- Datebook: May 10 - Anna Jarvis Leads First Mother's Day 105 Years Ago
Wed November 28, 2012
Peabody to Close IL Mine
A Peabody Energy Corp. subsidiary is permanently closing a southern Illinois mine because it failed to meet safety, compliance and performance standards. Bay Ridge Inc. says operations at the Willow Lake Mine near Harrisburg are unsustainable. The mine closing will affect about 400 workers.
The coal company says it expects to incur a non-cash, one-time charge of $40 million to $60 million, or 10 to 25 cents per share after tax, in the fourth quarter. The charge is mainly to write off assets, increase asset retirement obligations and accrue severance.