Print |
E-mail to a friend
BUSINESS
ICG blames Allegheny for mine closure
SCOTT DEPOT -- International Coal Group has taken the unusual step of publicly blaming a customer for forcing the shutdown of a mine.
Chief executive Ben Hatfield told analysts Thursday that electric utility Allegheny Energy's decision to delay deliveries in the third quarter idled ICG's Sycamore mine in Harrison County.
Greenburg, Pa.-based Allegheny spokesman Allen Staggers blames high coal inventories due and says his company has acted in accordance with all its contracts.
ICG says it mentioned Allegheny because the deferrals were the largest it has experienced recently and idled a mine. While other buyers delayed taking coal, ICG says it was appropriate to name Allegheny as an update to investors.
ICG and Allegheny are embroiled in a long-running lawsuit over the Sycamore contract.
