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Its newest mine should see coal available for commercial sale in early 2009.
WCC said the continued strong market for coal had been reflected in its Wolverine complex selling all hard coking coal output for $300 per ton and its Brule operation’s low-vol PCI coal selling for about $248/t. Both coal prices are set through March 31 of next year.
“Further evidence of the strong coal markets are the recent 2009 calendar year coking coal contract settlements by the US metallurgical coal producers at prices similar to what other global producers have experienced for the 2008 coal year,” said officials.
Looking ahead in anticipation of its fiscal year close next March, WCC updated its production expectations for Wolverine, Brule and Willow Creek.
Output is estimated at 3 million tons, comprising 1.45Mt of hard coking coal and 150,000t of mid-volatile pulverised coal injection coal from Wolverine, 1.3Mt of low-vol PCI from Brule and 100,000t of low-vol PCI from Willow Creek.
“The temporary lower than expected production at Wolverine is primarily due to production difficulties from continued labour shortages and continued high stripping ratio,” WCC noted, adding that it is continuing to review strategic alternatives.
WCC president John Hogg said: “With the strength of the coal markets, along with the 15 per cent weakening of the Canadian dollar, the company is generating strong cash flows and will continue to build on its strong financial position."
