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Mining Weekly reported that shares of Patriot Coal (NYSE:PCX) fell 6% following the announcement it would idle a Kentucky mine.
Mining Weekly reported that shares of Patriot Coal (NYSE:PCX) fell 6% following the announcement it would idle a Kentucky mine.
As quoted in the market news:
It said the market for thermal coal remains weak as a result of a mild winter and lower demand from utilities that use the coal to fuel power plants. Thermal coal prices have slumped in recent months. In Friday afternoon trading on the NYSE, Patriot Coal shares were 6% lower at $6.32.