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
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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CONTACT: Scott Morris
Rhino Resource Partners LP