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Potential bankruptcies and layoffs for the coal industry

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World Coal,

In a keynote speech to the North American Coalbed Methane Forum, Murray Energy Corp. Founder and CEO, Robert Murray, said he believed the coal industry is likely to see bankruptcies in the near future and potential layoffs at Murray mines. He stated this would consequently halt six of the nation’s 45 longwall operations. There will be a remaining 39; Murray would have 17. He did not comment further on specific figures for job losses.

He said: "Every major coal company in this country is either going to be broken up or sold or in bankruptcy except two. And I hope I am one of them. And it will happen by the end of next year.”

Edited from various sources by Harleigh Hobbs. Sources: nasdaq, biz journals

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