February 28, 2024

Business Briefing | ENERGY: Patriot Expects a Decline in Third-Quarter Output

The Patriot Coal Corporation expects its third-quarter production to fall by about 450,000 tons, mainly because of geological issues at two of its mines and the early closure of another mine. Production at the company’s Federal mine was down for more than six weeks, while difficult geology is expected to cut volumes from another. Stock in Patriot, based in St. Louis, fell $1.47, or 10 percent, to $12.86 a share.

Article source: http://feeds.nytimes.com/click.phdo?i=495b4dde5a26e09beba8b6fd53eb0ec7

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