Sunrise Coal Mine in Carlisle will close permanently. That was the announcement in a news release late yesterday from Hallador Energy.
President and CEO Brett Bisland says that after experiencing a negative free cash flow the last 18 months the decision was made close the Carlisle mine. He says the action will reduce the overall cost structure and maximize per ton margins and reduce current and future capital expenses by utilizing equipment and parts at their Knox County mine in Oaktown. $23 million in equipment will go to Oaktown. There’s been no date of an official closure. There’s a news conference scheduled today with investors.
The mine stopped production in January laying off 90 workers.