U.S.-based Walter Energy to idle Canadian operations laying off about 700

VANCOUVER – Walter Energy Inc. (TSX: WLT) says it will temporarily lay off about 700 workers at two coal mines in British Columbia due to difficult market conditions and lower prices. U.S.-based Walter energy says it will idle the Wolverine and Brazion mines. The company said it expects to incur severance charges of approximately $7 million in the second quarter of 2014 in connection with the idling of the mines.

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