Cline Mining Says Full Commercial Production Starts at Colorado Mine
Cline Mining Corp said it is bringing its New Elk metallurgical coal mine in Colorado, United States, into full commercial production, sending its shares up 9 percent.
The company said it expects to attain an annual production rate of 3 million tons of saleable coal in the first half of 2012, but projected production during calendar year 2012 at 2.5 million tons.
Cline expects to produce at an annual rate of 3 million tons from 2013.
The Toronto-based company expects production to the end of December at the Colorado mine to be about 30,000 tons of saleable coal.
Shares of the company were up 7 percent at C$1.54, after rising to a high of C$1.57 in afternoon trade on the Toronto Stock Exchange.
Short URL: http://woodlawnpost.com/?p=34924
Posted by WoodlawnPost
on Dec 31 2011. Filed under Coal, Energy.
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