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Massey Energy

567 bytes added, 15:07, 25 November 2011
SW: →‎Operations: - add section
As of early 2010, Massey Energy operated 56 mines, including 42 underground mines and 14 surface mines in West Virginia, Kentucky and Virginia. These mines supply coal to 23 processing and shipping centers, which the company refers to as "resource groups" many of which process coal from number of mines. In a prospectus document issued in March 2010, Massey states that "in the year ended December 31, 2009, 72% of our produced coal tons sold was attributed to steam coal, 20% was attributed to metallurgical coal and 8% was attributed to industrial coal." Massey states that while metallurgical coal accounted for 20% of the volume sold it accounted for 30% of its revenue.<ref name="MasseyProsp">Massey Energy, [http://phx.corporate-ir.net/phoenix.zhtml?c=102864&p=irol-SECText&TEXT=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvZmlsaW5nLnhtbD9yZXBvPXRlbmsmaXBhZ2U9Njg0Njg1MCZhdHRhY2g9T04mc1hCUkw9MQ%3d%3d "Preliminary Prospectus Supllement"], Filed with the U.S. Securities and Exchange commission, March 22, 2010.</ref>
 
===New prep plant for metallurgic exports===
It was announced in November 2010 that Massey Energy began building a $65 million processing plant in southern West Virginia. Massey stated the plant will serve several operations producing metallurgical coal used for steelmaking. Massey stated that they are beefing up its ability to produce metallurgical coal to cash in on growing demand from Asian steelmakers.<ref>[http://www.businessweek.com/ap/financialnews/D9JJA0D03.htm "Massey Energy starts work on W.Va. prep plant"] Associated Press, November 19, 2010.</ref>
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