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Lexington, KY, June 2, 2015 (GLOBE NEWSWIRE) -- Rhino Resource Partners LP (NYSE: RNO) ("Rhino" or the "Partnership") today announced that it was temporarily idling a majority of its Central Appalachia coal operations due to ongoing weakness in the coal markets. In accordance with requirements of the Worker Adjustment and Retraining Notification ("WARN") Act, notices were given to 192 employees of the Partnership's Central Appalachia operations. The final number of Rhino employees that will ultimately be impacted by these actions will be based on future market conditions for Central Appalachia met and steam coal.
Joe Funk, President and Chief Executive Officer of Rhino's general partner, stated, "We are taking difficult actions that are necessary due to the persistent weakness in the coal markets. Demand for Central Appalachia steam coal has fallen to unprecedented levels as utilities choose low-priced natural gas for electricity generation and other coal-fired capacity is shuttered due to governmental regulations. Met coal prices remain at depressed levels due to persistent worldwide oversupply and weak demand from China. Future market conditions will determine the duration that our Central Appalachia operations remain idle."
About Rhino Resource Partners LP
Rhino Resource Partners LP is a diversified energy limited partnership that is focused on coal and energy related assets and activities, including energy infrastructure investments. Rhino produces metallurgical and steam coal in a variety of basins throughout the United States and it leases coal through its Elk Horn subsidiary. Additional information regarding Rhino is available at RhinoLP.com.
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