Wednesday, May 26, 2010

Massey Energy (NYSE:MEE): More Citations

Massey Energy (NYSE:MEE) received 23 citations from federal mining inspectors since May 14 at the Upper Big Branch mine, where 29 miners were killed in April.

While many of them were related to electrical problems, three were labeled as "significant and substantial," although it wasn't clear as to whether they played any role in the explosions and deaths at the mine.

The citations were issued by the Mine Safety and Health Administration, which oversees the industry.

Those violations considered as more serious were related to what are called escapeways, which must be taken care of very well to ensure workers can leave the area unobstructed in case of emergency situations.

Also cited were travelways, which are exactly what they sound like, means of moving from one working area to another.

The mine is still filled with high levels carbon monoxide, so inspectors haven't been able to go underground yet. Expectations are they may be able to enter the mine by June 2.

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