CanAm Coal Corp. (TSXV:OE, OTCQX:COECF) announced that their subsidiary, Birmingham Coal & Coke received a permit for the Posey Mill II Mine.
As quoted in the press release:
This permit is a 5 year surface mining permit covering a total of 781 acres. The PM2 Mine is adjacent to the Bear Creek and the Knight Mine and, with most infrastructure already in place, the Company is targeting a February 2013 production startup. Annual productive capacity at the Posey Mill II mine is forecasted at 100,000 to 150,000 tons per annum.
BCC’s Vice President, Tom Lewis, said:
The issuance of this permit is especially important as the majority of the coal to be produced at Posey Mill II has been sold into a long term contract. We are working diligently to build the necessary infrastructure and anticipate production of coal in February 2013.
Love It Or Hate It: 40% Of Electricity In The United States Is Generated From Coal. China uses even more.
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