At its recent shareholder meeting, Vancouver-based Western Coal Corporation announced, that it plans to boost annual coal output to 10 million tonnes by 2013.
That’s an increase of 3 million tonnes, over the current porduction capacity. Western’s Brule, Wolverine and Willow Creek operations are all located in the South Peace, near Chetwynd and Tumbler Ridge.
The Canadian Mining Journal, in a Sunday story, said the company noted that metallurgical coal markets are recovering, with recent spot prices for coking coal now over $170 a tonne U.S.
Next year’s contract coal prices are also expected to be significantly higher, if steel demand continues to recover as predicted.