Montana coal mine owners: production to increase by late 2009

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By The Associated Press

Story Published: Aug 21, 2008 at 5:06 PM MST

Story Updated: Aug 21, 2008 at 5:06 PM MST

BILLINGS - The new owners of a coal mine near Roundup say they will dramatically step up production by the end of next year to an estimated 12.5 million tons annually.

The Signal Peak mine, formerly known as Bull Mountain, was bought last month by two Ohio companies, Boich Companies and FirstEnergy Corp. They plan to invest from $400 million to $450 million in the project.

After touring the mine site Thursday with Gov. Brian Schweitzer, Boich CEO Wayne Boich Jr. said his company will complete a new 35-mile rail spur to the site and begin shipping coal by August 2009.

Construction on the rail line is already under way. About half the coal will go to four Midwestern utilities owned by FirstEnergy. Some of the rest could be exported to foreign markets, including Asia.

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