| Type | Public |
|---|---|
| Traded as | NYSE: PCX |
| Industry | Mining |
| Founded | Oct.31,2007[1] |
| Headquarters | St. Louis, Missouri |
| Key people | Irl F. Engelhardt chair Richard M. Whiting pres,ceo,dir |
| Products | coal |
| Employees | 3,500 Sept 2010 |
| Subsidiaries | Magnum Coal |
| Website | patriotcoal.com |
Patriot Coal Corporation is a coal-mining company based in St. Louis, Missouri. The company is a spin-off of most of the Eastern U.S.A. operations of Peabody Energy.
Patriot is one of the largest coal miners east of the Mississippi River. The company's operations are made up of 16 mining complexes. Thirteen of these complexes are located in West Virginia and three are located in Kentucky. In 2007, Patriot sold 22.1 million tons of coal. The company controls 1.9 billion tons of proven and probable coal reserves. Patriot is the largest producer of thermal coal in the Eastern United States. It is also a leading producer of metallurgical coal. Approximately 80% of its coal is sold to domestic utilities and 20% is sold to domestic and international steel producers.
Patriot Coal's stock started trading on the New York Stock Exchange under the symbol PCX on November 1, 2007.
On July 23, 2008, Patriot acquired Magnum Coal Company. At the time, Magnum was one of the largest coal producers in Appalachia, with 11 mines mines and 7 processing plants. Magnum had over 600 million tons of proven or probable coal reserves.[2]
Through its 14 mining complexes in Appalachia and the Illinois Basin, Patriot Coal's production and marketing of coal in the eastern United States is surpassed only by Peabody Energy (Parent) and Cliffs Natural Resources.[3]