Relocating Coal Company to Open New Mine, Facilities Near Grafton
Posted on: Saturday, 9 July 2005, 00:00 CDT
International Coal Group Inc. plans to invest $200 million to open a new underground mine near Grafton.
Construction could begin in 2007, said Gene Kitts, senior vice president of mining services at International Coal Group. The Taylor County mine would produce about 4 million tons of coal a year and employ up to 350 people.
The company, headed by New York billionaire Wilbur L. Ross, would also build a preparation plant that could process up to 2,000 tons an hour, he said.
"We're starting preliminary environmental monitoring now," Kitts said.
International Coal Group, which is moving its headquarters to Charleston from Ashland, Ky., also expects to have about 190 million tons of coal reserves on 65,000 acres of property near Knottsville, southeast of Grafton.
Ross and partners bought most of Horizon Natural Resources Co. after an August ruling by a U.S. bankruptcy judge that Horizon did not have to honor union contracts that guaranteed benefits for the miners.
Hundreds of miners protested during the court hearings in Kentucky.
Kitts said ICG had an open house last month to discuss the Taylor County mine with area residents.
"We've received nothing but encouragement from most everyone we've talked with in regard to this investment in Taylor County," he said. "It is creating quite a bit of excitement."
ICG has one active mine in West Virginia: The Birch River Mine near Cowen, which employs more than 200 people.
The company also operates coal mines in Kentucky, Illinois, Maryland and Pennsylvania.
Source: Charleston Gazette, The
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