ION expands ETF trading capabilities with Tradeweb integration
Investing.com -- Alpha Metallurgical Resources (NYSE:AMR) stock dropped 4.3% Thursday following news of a fatal accident at its Rolling Thunder Mine in West Virginia.
The company confirmed that section foreman Steven Lipscomb, 42, lost his life during a sudden flooding incident that occurred on Saturday, November 8. According to Alpha, Lipscomb was last seen ensuring his crew’s safety as they evacuated the mine after encountering a substantial inflow of water. All other miners in the area escaped safely.
"Our hearts are broken," said Andy Eidson, Alpha’s chief executive officer. "Steve joined our company in 2006 and was a dedicated employee, respected leader and friend to many. His actions to ensure the safety of his crew members were heroic."
The company mobilized rescue efforts immediately after the incident, working with local, state, and federal agencies as well as emergency dive teams in a multi-day operation. Alpha is now cooperating with authorities to investigate the accident and its causes.
The stock decline reflects investor concerns about potential operational impacts and regulatory scrutiny following the tragedy. Alpha Metallurgical Resources is a leading producer of metallurgical coal in the United States.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.