Selling Pennyrile, cutting CAPP production big Q3 moves by Rhino

摘要

As with anybody that’s producing thermal coal right now, Rhino Resource Partners has been impacted by the downturn in prices. That led directly to the company closing and selling its Pennyrile operations to Alliance Coal during the third quarter. “The closure and sale of the Pennyrile operations was a very difficult decision as it impacted the entire Pennyrile workforce and their families,” said Rick Boone, president and CEO of Rhino’s general partner. “The market pressures on the Illinois Basin resulted in lower selling prices and necessitated that we make the tough decision to dispose of this operation.”