Most Active Stories
- MSU's Board Changes Tobacco Policy, Passes Salary Increase and Learns of Org. Structural Change
- Murray Residents Voice Comments on Updates to the Human Rights Ordinance
- Murray Composer on Writing "A Winter's Dawn" - Performance This Saturday
- Geologists Record Widespread Activity On Ste. Genevieve Seismic Zone
- [VIDEO] Big Atomic Plays Sounds Good Live Lunch
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.