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From: peppe51	1/22/2009 9:26:37 AM
	of 8051

400...Patriot Coal to close some mines, cut 400 jobs Wed, Jan 21 2009, 23:01 GMT afxnews.com Jan 21 (Reuters) - Patriot Coal Corp said it will idle its Remington and Black Oak mines and scale down activity at it Rocklick facility, resulting in about 400 job cuts. The US coal producer said its Remington complex mine produced 1 million tons of thermal coal in 2008, but lower mining recovery had resulted in a higher cost structure. "In today's softer market conditions, continuing these operations was not considered economically feasible," the company said. Patriot said the current weak demand in the metallurgical coal market have also forced it to suspend operations at its Black Oak mine and reduce manpower and operating time at its Rocklick facility. The company had expected to produce about 0.9 million tons at the Black Oak mine in 2009. Shares of St. Louis-based Patriot Coal closed up about 21 percent at $6.10 Wednesday on the New York Stock Exchange. fxstreet.com

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