Cleveland-Cliffs Inc and Alpha Natural Resources, Inc. announced that each company’s Board of Directors has approved a definitive merger agreement under which Cleveland-Cliffs will acquire all outstanding shares of Alpha in a cash and stock transaction valued at approximately $10 billion.
Under the terms of the agreement, for each share of Alpha common stock, Alpha [...]

Alpha Natural Resources shares rallied after the mine operator said its first-quarter profit more than tripled on surging coal prices.
The Abingdon, Va.-based company earned $25.5 million, or 39 cents per share, compared with $8.3 million, or 13 cents per share, a year earlier. Revenue was up 20 percent to $516.9 million. Analysts polled by Thomson [...]

The investigation continues today in to the death of two miners in a southern West Virginia coal mine. Brooks Run Mining Company says a preliminary investigation shows a roof fall at its Cucumber Mine on Saturday was localized to the area where the two men were working. Killed in the accident were 48-year-old James D. [...]

Shares of coal producers fell widely Thursday, led by St. Louis-based Peabody Energy Corp.
Late Wednesday, Peabody Energy said lower third-quarter shipments will mean its 2006 production will be at the low end of its previous guidance.
In response, several analysts slashed their third-quarter earnings projections for Peabody Energy, including Morgan Stanley’s Mark Liinamaa. He cut his [...]