Western Coal Corp. has announced a record coal production increase of 90% for its fiscal second quarter 2011 (ending September 30 2010).
In total, the company produced 1.5 million t of coal during its last quarter compared to 805,000 t in the corresponding period of last year.
The company has also increased its production guidance for the full fiscal year 2011 (ending 31 March 2011) to 6.1 million t from the prior target of 6 million t. This new target represents a 91% increase from the 3.2 million t produced in fiscal 2010.
Keith Calder, president and CEO of Western Coal, said: “Producing 1.5 million t represents a new quarterly record for Western. Our strong performance so far, which will be further bolstered with the addition of new equipment just arriving at our coal mines, gives us confidence that we can achieve our new and higher volume target for the year and that our delivery plan is working.”
Calder also explained that the proximity of its British Columbia met coal mines to the northern part of Ridley Terminals in Price Rupert. The terminal, which is the only one in the world with excess capacity, is also the closest North American port to Asia. As such, the company’s partners, Ridley Terminals and CN Rail, are helping Western Coal to meet the growing demand for its met coal products in Asia.
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