Coal Production Will Increase - With or Without Power Plant
Consol will invest $100 million in the Buchanan Mine.
CONSOL Energy will increase mining capacity at the Buchanan Mine by nearly 1 million tons of coal per year, according to a company news release issued Tuesday.~ Kathy Still at the BHC
This will add about 40 jobs and add to the much needed tax base. I hope some of that coal goes to the new power plant here in Wise County. If not, the coal can easily be exported. Alpha Natural Resources has that covered.
Alpha Natural Resources Inc. is now the largest stakeholder in one of the nation’s busiest coal ports, based in Newport News.
Alpha announced last week that it has increased its equity ownership position in Dominion Terminal Associates to 40.6 percent. The purchase effectively increases the company’s coal export and terminaling capacity from approximately 6.5 million tons to approximately 8 million tons annually.
DTA is one of the nation’s busiest coal ports, with an annual nameplate capacity of approximately 20 million tons of coal. The purchase of an additional ownership stake in the terminal should enable Alpha to expand its export capabilities into a very robust international coal market, according to an Alpha press release.
“Strategically this move should further secure our position as the largest exporter of high-quality metallurgical coals from the United States to the world’s steel industry,” said Michael J. Quillen, Alpha’s chairman and chief executive officer.
Alpha, through its subsidiary Alpha Terminal Co., shares ownership in the DTA facility with Peabody Energy and subsidiaries of Arch Coal, Inc.
Alpha Natural Resources is a leading supplier of high-quality Appalachian coal to electric utilities, steel producers and heavy industry. Approximately 89 percent of the company’s reserve base is high Btu coal and 82 percent is low sulfur, used by electric utilities as steam coal. Alpha is also the nation’s largest supplier and exporter of metallurgical coal, a key ingredient in steel manufacturing. Alpha and its subsidiaries currently operate mining complexes in four states, consisting of 58 mines supplying 11 coal preparation and blending plants. The company and its subsidiaries employ more than 3,600 people. (LINK)
This is good news for the coal miners and families in SWVA. While Virginia plays politics on giving us the right to use our God given resources, the companies are making sure we can work and profit.