June 4, 2009 (FinancialWire) — Consol Energy Inc. (NYSE: CNX) said it plans to restart longwall production at its Buchanan Mine near Mavisdale, Virginia in mid-July. The company had idled longwall production at the mine, which produces metallurgical coal, in early March to balance supplies with an anticipated reduction in demand from steel producers.

The company said it recently settled with its two largest metallurgical coal customers several issues surrounding existing contractual commitments for coal. As a result, Consol said it anticipates sales through the end of the year will support production volumes of around 240,000 tons per month.

The company has idled longwall production at its Blacksville #2 mine near Wana, West Virginia, beginning June 2, with the idle period expected to continue at least through July 18. Blacksville #2 is one of seven high-Btu bituminous coal mines the company operates in Northern Appalachia.

Consol is reducing planned production at Blacksville #2 in order to balance supplies of Northern Appalachia coal with overall demand. Blacksville #2 Mine normally produces around 440,000 tons per month.

The company also plans to idle production at Jones Fork, near Mousie, Kentucky and Wiley operations in Mingo County, West Virginia, beginning July 1. Consol Energy is adjusting its 2009 estimated production to 60 million tons from its previous target of 62 million tons.

Pittsburgh-based Consol Energy is a bituminous coal and natural gas company that has 17 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons.

The company is also a majority owner of CNX Gas, an Appalachian gas producer.

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