VANCOUVER, B.C. -- Western Coal Corp. announced today at its Annual and Special Meeting of shareholders that it is planning to expand overall company production to 10 million tons of coal per year by 2013.
The expanded production plans announced today include purchasing new equipment at two mines, Maple Coal and Gauley Eagle, in West Virginia that would allow the mines to expand to their full potential of 2 million tons and 1.5 million tons, respectively.
John Hogg, President & CEO of Western Coal said in a press release issued by the company, "With current operations performing better than expected along with the expectation of higher coal prices in the near-term, we believe the time is right to expand our operations."
About Western
Western is a producer of high quality metallurgical and thermal coal from mines located in northeast British Columbia (Canada) and West Virginia (USA). The mines have the capacity to produce 7 million tons per year and have over 20 years of coal reserves. Western also owns a 50.6% interest Energybuild (EBG: AIM) which produces high quality anthracite and thermal coals in South Wales (UK). Other interests owned include a 45% interest in Xtract Energy (XTR: AIM), 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX) and 100% of a small gold and antimony operation in Australia. The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at http://www.westerncoal.com/.
1 comment:
Western Coals announcement on Tuesday, September 29th that they will aggressively be expanding capacity is a major benefit for volumes at Westshore Terminals at Roberts Bank. WTE is looking to expand and highlighted exporting to China and India as keys to their decision. Further, Westshore Terminals have been and continue to improve efficiency unloading trains and have acquired some new equipment to help move the coal more effectively.
We are following Westshore Terminals Income Fund at http://www.investingincanada.info
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