Patriot Coal shares drop as company temporarily suspends operations at W. Va. mine

Patriot Coal shares plummet on suspended mine

DENVER — Shares of Patriot Coal Corp. fell Tuesday after the coal producer said it temporarily suspended operations at a West Virginia mine due to dangerous air in a sealed area.

Patriot fell or $1.68, or 9.5 percent, to $15.94 in afternoon trading after earlier dropping as low as $15.88.

The company, based in St. Louis, said Monday it evacuated the Federal No. 2 mine in northern West Virginia on Feb. 18. It is unclear when mining will resume at the sprawling underground complex.

Patriot did not provide specifics about conditions at the mine, and a telephone message left Tuesday was not immediately returned.

U.S. Mine Safety and Health Administration rules require action if methane gas levels in sealed areas reach explosive levels. MSHA adopted the rule after 12 men died when methane exploded in a sealed area of the Sago Mine in West Virginia on Jan. 2, 2006.

Patriot said workers were evacuated from Federal No.2 after the problem was detected in the abandoned area of the mine. Federal regulators have allowed some workers to continue maintenance work in the interim.