NEW YORK U.S.
metallurgical and thermal coal producer Walter Energy Inc. cut
production at low-margin mines by more than 1 million tonnes
per year in 2012, according to a letter to shareholders.
"As we enter 2013, we have the
capacity to produce in excess of 15 million metric tons (per
year) of high-quality met coal in our existing operations when
market conditions warrant," the letter said.
Walter Energy in 2012 also
transitioned its Brule and Willow Creek metallurgical coal
mines in British Columbia to owner-operated models from
contractor-operated models, it said, noting that it continues
to focus on development of its new Blue Creek Energy Mine in
The Birmingham, Ala.-based
company boosted its production of high-quality metallurgical
coal by 35 percent to a record 11.7 million tonnes last year,
also increasing its average cast cost per ton of metallurgical
coal produced by 6 percent year on year in 2012 and by 20
percent year on year for the fourth quarter.
A version of this article
was first published by AMM sister publication Steel