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Walter settles with kin of coal-mine dead

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Rose Siding Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-11-05 09:19 AM
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Walter settles with kin of coal-mine dead
Relatives of 13 men who died at a Walter Industries-owned coal mine in 2001 have reached a confidential settlement with the Tampa company.

The agreement, struck Friday, closes the books on the wrongful-death lawsuits family members filed after a Sept. 23, 2001, accident killed one miner and 12 others who sought to rescue him.

The tragedy remains the country's deadliest coal-mine disaster since 1984. Subsidiary Jim Walter Resources is still contesting a government report that held it partly responsible for the accident at Mine No. 5, leading to fines totaling $443,335. The mine is one of three the company owns in Brookwood, Ala.

"We are grateful that this matter has been fairly resolved for the benefit of the surviving members as well as our company and our employees," George Richmond, president of Jim Walter Resources, said in a written statement.
Friday's settlement is likely to have little impact on Walter's stock price, which has hovered at all-time highs in recent weeks thanks to coal's resurgence.

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