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Metinvest Expands In-House Production of Coking Coal
07/19/2011 - Metinvest announced plans to increase its in-house production of coking coal, following the commissioning of Affinity Mine, owned by its subsidiary United Coal Co. The planned capacity of this coal mining unit will amount to 1.9 million tonnes of high-quality coking coal.
Metinvest announced plans to increase its in-house production of coking coal, following the commissioning of Affinity Mine, owned by its subsidiary United Coal Co. The planned capacity of this coal mining unit will amount to 1.9 million tonnes of high-quality coking coal, with the mine expected to achieve the production targets by 2012.
Total volume of coal to be mined at United Coal in 2011 is expected to increase by 14% to 8.2 million tonnes. The volume of the U.S. coal imports to Ukraine in 2011 is estimated at the level of 0.8 million tonnes of clean coal, presenting a 250% year-on-year increase.
The new mine’s opening ceremony was attended by Earl Ray Tomblin, Acting Governor of West Virginia; Bill Raney, the President of West Virginia Coal Association; and the Mayor of Sophia Danny Barr.
Dale Birchfield, President of Affinity Coal Co., said: “We are very pleased that this project, which will comprise four super sections and a state-of-the-art preparation plant, has been fully completed on time. The mine’s opening ceremony is the culmination of joint efforts of our committed employees, contractors, and the Norfolk Southern Railroad.”
Within the framework of Metinvest's Ukrainian coal assets development strategy, mining of coking coal is expected to increase by 7% to 6.2 million tonnes in 2011, compared to 5.8 million tonnes in 2010, and by another 5% to 6.5 million tonnes in 2012. In 2011, Metinvest intends to spend UAH 930 million (US$116 million) for these purposes, 1.3 times more than in the previous year.
Expansion of in-house, high-quality coal production is important for the Group, enabling Metinvest to strengthen its vertical integration and produce high-quality coke to improve performance of its steelmaking plants’ blast furnaces.
