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Alpha Natural Resources 3Q loss less than expected

Associated Press Modified: November 2, 2012 at 7:45 pm •  Published: November 2, 2012
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That includes slowing production to get more in line with demand as prices continue to fall and the slashing of about 1,200 jobs. The restructuring started in September and is expected to save $150 million a year once they're complete.

Alpha Natural Resources' $7.1 billion takeover of Richmond, Va.-based Massey in June 2011 made it the world's third-largest producer of metallurgical coal, a key fuel for manufacturing steel. It also supplies thermal coal to electric utilities and manufacturing industries. It has more than 180 mines and processing plants in Kentucky, Pennsylvania, Virginia, West Virginia and Wyoming.