Industrial Metals

CanAm Coal Corp (CVE:COE) announced its’ Q3 sales results for RAC mining

CanAm Coal Corp (TSXV:COE) announced its’ Q3 sales results for RAC mining.

The press release is quoted as saying:

Coal sales at RAC continued to be strong in the third quarter and were 23,281 tons in the quarter as compared to 25,131 tons in Q2 and 20,305 tons in Q1. The average for the quarter was 7,760 tons per month as compared to 8,377 tons per month in Q2 and 6,769 tons per month in Q1. Sales in the third quarter consisted of 66% metallurgical coal and 34% thermal or steam coal.

Tim Bergen, CEO of the company, said:

Although our production slowed down towards the end of the third quarter as a result of contractor equipment failure and the transition of mine operations to RAC, our August production has demonstrated to us that the mine can operate at our target production levels. Once transition of mine operations has been completed, we anticipate that production growth will resume in 2011.

To access the full release, click here.

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