The Laurel Mountain Resources unit of James River Coal (NASDAQ: JRCC) is permitting a new deep mine in Floyd County, Ky., that would produce a total of nearly 2.7 million tons of coal over its life.
The Kentucky Department for Environmental Protection put out for public notice on April 17 a socioeconomic report on the project written by the company as part of a wastewater permit application. The report said the mine’s nearly 2.7 million tons of production would generate about $111.7m in revenue. The mine will create about 25 new jobs and will be located close to Blue Moon in Floyd County.
Laurel Mountain is one of the operations that James River Coal acquired in its April 2011 buy of International Resource Partners LP and its subsidiary companies.
James River Coal said about the operation in its March 1 Form 10-K annual report: “The Laurel Mountain complex is located in Floyd, Johnson, Lawrence and Knott counties in eastern Kentucky. Our surface mines use both contour and highwall and area mining methods. We mine the Richardson, Skyline, Hazard #9, #8, #7, #4 Haddix, Fireclay, Whitesburg, Amburgy, and Elkhorn #3, #2, and #1 seams at this complex. Coal is processed and loaded into railcars at our twenty-four hour unit train load out facility on the CSX. As of December 31, 2011, we employed 164 mining and support personnel at this complex.”