Peabody Energy Corp. will permanently close its Air Quality Mine in southwest Indiana because of “soft” conditions that make operations "uneconomic," the company said Wednesday in a prepared statement.
The closure of the Vincennes mine will affect 230 workers, the St. Louis-based company said.
“Peabody is working with employees regarding placement opportunities at other Peabody operations,” the company said. The company has 10 other mining operations in Illinois and Indiana.
Peabody said it expects to incur a one-time charge of $75 million in the third quarter related to the writedown of assets.
The mine produced 1.2 million tons of low-sulfur coal in 2011, according to the statement. The mine supplies power plants and industrial customers in Indiana and Illinois, according to the company’s website.