Foundation rocked by miner vacations, Cumberland move

FOUNDATION Coal has reduced its third-quarter earnings after scheduled miners' vacations at its eastern operations, a planned longwall move at the Cumberland Mine and a non-cash charge related to the company's secured senior debt refinancing.
Foundation rocked by miner vacations, Cumberland move Foundation rocked by miner vacations, Cumberland move Foundation rocked by miner vacations, Cumberland move Foundation rocked by miner vacations, Cumberland move Foundation rocked by miner vacations, Cumberland move

Black Thunder operates five coal loading shovels and a mixed fleet of 21 trucks. The MineStar FleetCommander module has boosted productivity.

Angie Tomlinson

Foundation said on Thursday its third-quarter earnings will be reduced by approximately $US0.17 per diluted share. EBITDA (earnings before interest, tax, depreciation and amortisation) will be reduced by about $18-22 million compared to the second quarter of 2006.

Foundation said strong operational performance at its Wyoming and Pennsylvania affiliates partly compensated for the impact of the longwall move and miners' vacations.

However, operational challenges at its Illinois and West Virginia operations offset the gains in Wyoming and Pennsylvania.

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