Atlantic Coal riding boom wave

UK-BASED and AIM-listed anthracite coal miner Atlantic Coal is feeling the warmth of a production boom, marking record clean output for the year at its flagship Pennsylvania mine that was more than double run-of-mine than in 2011.
Atlantic Coal riding boom wave Atlantic Coal riding boom wave Atlantic Coal riding boom wave Atlantic Coal riding boom wave Atlantic Coal riding boom wave

Courtesy Atlantic Coal.

Donna Schmidt

The miner said Tuesday that it produced 161,500 tons clean at its Stockton Colliery in Schuylkill County near Hazleton, 61% higher than 100,139t in whole-year 2011 and notably exceeding its 1012 target of 155,000t.

Its ROM tonnage was 417,839t, up from 208,730t in 2011; sales rose a notable 32% to 140,213t from 106,403t, at an average price of $US149.20/t, up 5% from 2011’s $142.33.

Atlantic Coal managing director Steve Best said Stockton had been established as one of the top five anthracite producers in the state.

“We are now beginning to see the benefits of our investment program to improve the operation of the mine, and I look forward to continued improvement in performance,” he said.

“During the year we expanded our sales channels and achieved a significant milestone with the first major export shipment outside of North America, comprising 11,000 tons of anthracite from Fairless Hills Port, Philadelphia to Germany for use in the steel industry. We are positive about further such sales in the future.”

While Atlantic continued to enhance Stockton’s performance, Best said that the company would continue to hold options over three larger anthracite sites in Pennsylvania, each with the potential to sizably enlarge its portfolio.

“Further announcements on the progress of these transactions will be made at the appropriate time and we look to the coming year with optimism,” he said.

Most read Archive

loader

Most read Archive