Massey said that seven miners died, some 20 were injured and 19 were unaccounted for at its Upper Big Branch Mine in Montcoal, also known as Whitesville, about 30 miles (48 kilometres) south of Charleston, the state capital.
"We want to assure the families of all the miners we are taking every action possible to locate and rescue those still missing," Chief Executive Don Blankenship said.
The mine is owned by Massey's Performance Coal subsidiary.
The federal Mine Safety and Health Administration said in a statement that it was notified of the explosion at about 3:30 p.m. EDT (1930 GMT) and that rescue efforts are underway.
U.S. Sen. Jay Rockefeller of West Virginia said in a statement he was "heartbroken along with the community by the tragic news unfolding of the explosion at Upper Big Branch South mine. We are sending all of our prayers and thoughts to the brave miners and their families."
The incident is the deadliest U.S. coal mining disaster since January 2006, when 12 miners died after an explosion in the Sago Mine, run by International Mines Corp. in Tallsmansville, West Virginia, according to the U.S. Mine Rescue Association.
In 2007, nine miners died in a collapse of the Crandall Canyon Mine in Utah.
In the worst coal mine disaster in U.S. history, 362 miners died in an explosion in the Monongah mine, also in West Virginia, in 1906, the association said.
Massey said on its website that its accident rate fell to an all-time low for the company in 2009. It said its safety record last year was stronger than the industry average for the sixth consecutive year.
In after-hours trading, Massey shares traded at $51.90, down 5.1 percent from closing price of $54.69 on the New York Stock Exchange.
Massey, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia. ( Reuters )
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