Western Coal Announces 90% Increase in Fiscal Q2-2011 Production and Increases Production Guidance for Fiscal Year 2011
Tuesday, October 5th, 2010
Western Coal Corp. (TSX: WTN, WTN.WT and AIM: WTN) announces an increase of approximately 90% in coal production to 1.5 million tonnes for its fiscal second quarter ended 2011 (quarter ending September 30, 2010), compared with the quarter a year earlier. Western also increased its production guidance for the full fiscal year 2011 (year ending March 31, 2011) to 6.1 million tonnes from the prior target of 6.0 million tonnes. The revised target represents an increase of approximately 91% from the 3.2 million tonnes produced in fiscal 2010.
Keith Calder, President and Chief Executive Officer of Western Coal Corp. said, “Producing 1.5 million tonnes in fiscal Q2-2011 represents a new quarterly record for Western. Our strong performance so far, which will be further bolstered with the addition of new equipment just arriving at our mines, gives us confidence that we can achieve our new and higher volume target for the year, and that our delivery plan is working.”
Continued Mr. Calder, “We are especially fortunate because of the proximity of our British Columbia metallurgical coal mines to the northern port of Ridley Terminals in Prince Rupert, B.C. Ridley Terminals is the North American coal port closest to Asia and the only major coal port in the world with excess capacity. Our partners Ridley Terminals and CN Rail are helping us to satisfy the growing demand for our metallurgical coal products in Asia.”