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BRISTOL, Tenn. - A section foreman at Alpha Metallurgical Resources' (NYSE:AMR) Rolling Thunder Mine in Nicholas County, West Virginia, lost his life following a flooding incident that occurred on Saturday, November 8, the company announced Thursday. The mining company, with a market capitalization of $2.18 billion, has been facing financial challenges with a 32.5% revenue decline in the last twelve months.
Steven Lipscomb, 42, of Elkview, W.Va., was unable to reach safety after a crew in the underground mine encountered a sudden and substantial inflow of water. According to the company, Lipscomb was last seen attempting to ensure his crew made it to safety. All other miners in the area successfully evacuated.
"Steve joined our company in 2006 and was a dedicated employee, respected leader and friend to many," said Andy Eidson, Alpha's chief executive officer, in a press release statement.
Following the incident, Alpha officials mobilized resources and led around-the-clock rescue efforts supported by local, state and federal agency officials as well as emergency response dive teams.
The Tennessee-based mining company, which operates across Virginia and West Virginia, is working with federal and state authorities to investigate the accident and its underlying causes.
Alpha Metallurgical Resources supplies metallurgical products to the steel industry and maintains operations throughout the Appalachian region.
In other recent news, Alpha Metallurgical Resources Inc. reported its financial results for the third quarter of 2025, revealing a larger-than-anticipated loss per share and a revenue shortfall. The company announced earnings per share of -$0.3157, which did not meet the forecasted -$0.2525. Revenue for the quarter was $526.78 million, falling short of the expected $550.75 million. These figures indicate a challenging quarter for Alpha Metallurgical Resources. There was no mention of any mergers or acquisitions in the recent updates. Additionally, no analysts' upgrades or downgrades were reported. These developments are part of the recent updates concerning the company's financial performance.
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