Xinergy completes coal prep facility

Stockpiled coal

Stockpiled coal

Knoxville-based coal producer Xinergy Ltd has reached a milestone with the completion of a coal preparation and rail loading facility at its South Fork mine in Greenbrier County, West Virginia.
The new facility is expected to help boost production substantially in the coming months.
The South Fork operation is expected to produce at “an average rate of 50,000 tons per month during the second half of 2013, representing approximately half of the complex’s anticipated productive capacity,” according to a news release.
The company previously said it expected to invest $20 million in the coal preparation and rail loading facility.
“Notwithstanding the challenging market conditions, we are extremely excited to report that we have completed construction of our South Fork infrastructure project on time, and within budget. We will continue to focus on driving shareholder value by executing upon our strategic vision of building out our premium quality mid-vol coking coal footprint in West Virginia,” Xinergy President Bernie Mason said in a news release.
In its most recent financial report, Xinergy said it had a net loss of $1.9 million, or 3 cents per diluted share, for the quarter ended March 31, 2013, compared to net income of $1.7 million in the same period the year prior.
Xinergy operates coal mines in West Virginia and Virginia. It sells thermal and metallurgical coal to electric utilities, steelmakers, energy trading firms and industrial companies.