PINEVILLE, W.Va. — Although the owners of the Pinnacle Mine in Wyoming County have not yet reached a deal with a possible unnamed buyer, employees were told on Friday that they would be able to keep their jobs for at least the next two weeks.
The mine had been scheduled to close on Friday, if a new owner was not found by that day, but the deadline was extended on Friday morning to October 19th. While the mine is technically idle, the more than 300 employees will continue to receive paychecks for the next two weeks.
Prior to the Friday deadline, County Circuit Clerk David Stover told MetroNews affiliate WJLS he believed there was reason for optimism, based on what several people with direct knowledge of the negotiations had been telling him.
The Pinnacle Mine is Wyoming County’s largest employer. If the mine closes, it will mean the loss of hundreds of jobs estimated to bring in about $25 million in wages, annually. Additionally, 73% of the tax money generated supports the county’s Board of Education.