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“Updated” County Taxing Entities Will Lose $6.62 Million; Local Coal Mining Operation to Close Permanently

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Luminant Mining Company LLC will cease operations at its Monticello Mines. The closing will result in the elimination of all related operating jobs. Luminant calls this a difficult decision and states that all employees will be laid off according to the Collective Bargain Agreement. Locations included are in Sulphur Springs, Mt. Pleasant, and Winfield. The layoff is permanent as the entire mining operation will be closed.

Luminant will begin delivering WARN notices today, February 12th and layoffs will take place on April 29th of this year.

Taxing entities in Hopkins County lose $6,678,591.00 in business property and equipment with the closing of the mine. Land owned will continue to be taxed. When the mine closed the last time in 2011, the various entities suffered a $16 million tax loss in 2012 tax year.  According to the tax appraisal office it is hoped that increasing values and new construction will replace the latest loss.

The Power Plan in Mt Pleasant will remain open using coal from the western United States. Western coal is considered cleaner coal.

Author: Staff Reporter

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