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Rhino Resources

Rhino Resource announced the signing of a multi-year coal sales contract for its Pennyrile property in western Kentucky and plans to begin construction of the mine. The company anticipates cash expeditures of up to $17M in 2013 and $22M in 2014 to develop the mine to initial production 800,000 tons per year by 2015. Additional capital expenditures of $23M are expected to increase production to 2M tons per year by 2017.