Xinergy Ltd. (TSX: XRG) said July 1 that the Clearco preparation plant and rail loading facility at its South Fork mine in Greenbrier County, W.Va., has been completed and is ready for operation.
South Fork’s premium quality mid-vol coking coal operations are anticipated to produce at an average rate of 50,000 tons per month in the second half of 2013, representing about half of the complex’s anticipated productive capacity. Xinergy has lately cut back its steam coal output in a tough market for that coal and is focused on the somewhat depressed but still viable met coal market.
Bernie Mason, Xinergy’s President, stated: “Notwithstanding the challenging market conditions, we are extremely excited to report that we have completed construction of our South Fork infrastructure project on time, and within budget. We will continue to focus on driving shareholder value by executing upon our strategic vision of building out our premium quality mid-vol coking coal footprint in West Virginia.”
Xinergy will host an investor day at South Fork on July 10.
Headquartered in Knoxville, Tenn., Xinergy Ltd., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in West Virginia and Virginia. Xinergy sells high quality metallurgical and thermal coal to electric utilities, steelmakers, energy trading firms and industrial companies.