RICHMOND, Va.–(BUSINESS WIRE)–INR Energy, LLC (“INR”), a producer of metallurgical coal and high quality thermal coal, announced today that it has shipped its first vessel of Central Appalachian hard coking coal destined for China via a Newport News shipping facility. The Panamax vessel of approximately 72,000 metric tonnes, is the first of multiple shipments of INR coking coal to Asia. “INR is delighted to be able to expand our customer base to serve Asian steel making operations,” stated Gary Rogliano, INR’s Chief Executive Officer. He further commented, “While INR has always served the European steel producers, this opportunity opens a vast new market for our coking coals and helps establish INR’s name in the Asia/Pacific region.”
In other development news, INR’s West Virginia unit (“INR-WV”), has begun development of its newest mine, Lower War Eagle, in Wyoming County, West Virginia. Targeted to commence production in mid-2011, the Lower War Eagle Mine could produce up to one million tons per year of mid-volatile hard coking coal. Stephen D. “Doug” Williams, INR’s Chief Operating Officer, commented, “I am delighted with INR’s commitment to the development of the Lower War Eagle Mine which will allow us to timely capture a robust market opportunity with what will be our highest quality product.”
INR-WV’s other metallurgical coal mines, the Powellton and Chilton Mines will achieve full production levels over the next two quarters. INR-WV also operates the Toney Fork Mine that predominately serves export thermal markets. These operations are served by the newly constructed, state-of-the-art Saunders Preparation Plant and 110 car unit train rail loadout facility.
INR Energy, LLC is a Richmond, Virginia based company investing in mining operations, reserve positions and other mineral related infrastructure assets including docks, terminals, and other transportation assets. INR’s production division, INR WV Operating, LLC operates coal mines in southern West Virginia with in-place reserves and resources in excess of 300 million tons.
Contact:
INR Energy, LLC
Kelly Henry, 804-282-0369
khenry@inrenergy.com