NEW YORK Pacific Coal
Resources Ltd. plans to restart metallurgical coal production
at its Jam coke asset in May or June of this year, executive
chairman Hernan Martinez has told AMM sister
publication Steel First.
The mine, which has the capacity
to produce 100,000 tonnes of metallurgical coal and 60,000
tonnes of coke, has been closed for 10 months due to a dispute
with contractors, Martinez said.
"Were negotiating with a
Colombian pig iron producer ... to buy our coke production when
we restart production," Martinez added. "The company is a new,
privately owned pig iron mill that has the capacity to produce
180,000 tonnes of pig iron."
Toronto-based Pacific Coal
reported a net loss of $49.9 million in the fourth quarter of
2012 due largely to non-cash impairment write-downs on its
Cerro Largo and Jam assets in Colombia. This compares with a
$7.2-million net loss for the corresponding period of 2011.