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Westmoreland Coal

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Westmoreland Coal Company was founded in 1854 and is headquartered in Colorado Springs, Colorado. The company's current operations include surface coal mining complexes in three western states and power operations in the east and western United States.

According the the company's website, "Today, Westmoreland employs over 1,125 people in six states, and is producing approximately 30 million tons of coal and generating 1.6 million megawatt hours of electric power annually. Westmoreland also provides post-retirement benefits to over 4,400 people, mostly former coal miners and their dependents."

Westmoreland is the tenth largest coal producer in the United States. They have developed eight independent power projects and currently owns 100% of two of those projects. The company is ranked as the tenth largest coal producer in the country, with an emphasis on mine-mouth operations.

Westmoreland is publicly traded on the NYSE Amex under the symbol WLB and has over 9 million shares of common stock outstanding.[1]

The company announced in December 2011 that they had agreed to acquire Chevron Mining’s (CVX) Kemmerer Mine in the Hams Fork Region of Southwestern Wyoming for $179 million plus with an additional $14 million in working capital. The deal included 118 million tons of coal reserves, enough for 20 years of production.[2]

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Sources

  1. [1] Westmoreland Coal Company Website accessed December 9, 2009
  2. "Westmoreland Coal Acquires Kemmerer Mine" Forbes, December 27, 2011.

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