Industry Info: Lower Coal Production from Consol Energy
Co's Coal Division produced 14.3 mln tons for the fourth quarter of 2012, including 0.7 mln tons of low-vol coking coal from the co's Buchanan Mine. This was lower than the 15.2 mln tons, including 1.4 mln tons from Buchanan, in the fourth quarter of 2011. Annual 2012 coal production was 56.0 mln tons, including 3.5 mln tons from Buchanan and 0.1 mln tons from Amonate. Annual 2011 coal production was 62.0 mln tons.
Sorry about that. Did not see your post. What they don`t say is the reason they had less production from Buchanan is they shut it down. (From last year.)
Consol said its Buchanan Mine in Virginia — idled in September because of weak demand for metallurgical coal — will restart the week of Nov. 5 with a reduced schedule of five days a week. The company halted part of production at its Amonate Mining Complex in West Virginia and does not expect to change this year.
“By idling Buchanan and Amonate, we are communicating to steel producers that we will not sell into a market that is experiencing an inventory destocking,” said William Lyons, chief financial officer. “It is financially difficult for us in the short term but our actions will contribute to a fast rebound in demand for met coal.”