If anyone is paying attention here, MC Coal, a unit of ARLP, has a fire going on that started over the last week-end. You can find more in the news.As far as I can see, MC accounts for about 10% of ARLP's annual coal volume in tonnage. Their coal is high-sulfur, but that's all I know. Anyone have any idea how long it might take to extinguish the fire, or the financial effect? There's a blurb in the 2003 Annual Report about a fire and its aftermath, but I don't know how applicable it might be to the MC situation.Metal 27
Fire discovered Dec-27. Air cut off, pumping water and nitrogen in through new bore holes, monitoring mine conditions with fiberoptics and gas detection equipment.Last year produced 160,000 tons of coal per month.Google search "MC coal fire"http://biz.yahoo.com/bw/041227/275047_2.htmlhttp://www.kentucky.com/mld/kentucky/news/state/10514944.htmARLP pays a 3.5% dividend and has doubled this year.
Mozdzeni,Thanks for the info--now we wait to see how long that part of the mine is out of operation. I own some stock and will keep it. Fire is one of the risks in this business. Metal 27
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