Hold on to your hardhats.

DENVER (AP) - Shares of coal-mining companies pulled back Thursday as investors worried about the effects of slowing steel production amid a weakening price environment.

Steel manufacturers have announced up to a 20 percent drop in production, which likely will reduce demand for coal, analysts said.

Peabody Energy Corp. has indicated it will cut production growth at its Powder River Basin operations in Wyoming by 5 million tons next year, FBR Capital Markets analyst David M. Khani said Thursday. That comes on the heels of a similar announcement from Arch Coal Inc. about its Wyoming mine production.

http://news.moneycentral.msn.com/tic...104&Symbol=ACI

Sounds like things maybe slowing down around the industry.

[greencrest1272]

The cooling economies of China and India do not bode well either.

I pray that the coal market will remain consistent though.

It wouldn't hurt my feeling if Paramont slowed down a little, It's getting to where I can't keep up with all of these mines. With 2 new deep mines opening in the next 2 years and a few new strip mines in the works, it doesn't appear they will be slowing down any time soon.

As long as I'm busy I'll try not to complain, I'm sure there are others who would take the job in a heartbeat.