Foundation Coal

From SourceWatch
Jump to: navigation, search

This article is part of the Coal Issues portal on SourceWatch, a project of CoalSwarm and the Center for Media and Democracy. See here for help on adding material to CoalSwarm.

This article is part of the CoalSwarm coverage of coal and power industry data
Articles:

Foundation Coal is a major U.S.-based coal mining corporation. On its website the company states that in 2008 it produced approximately 69.4 million tons of coal and "controlled approximately 1.75 billion tons of proven and probable coal reserves."[1] In 2009, the company was merged with Alpha Natural Resources.[2]

Business Operations

In its 2008 annual report the company states that it sold "70.9 million tons of coal, including 69.3 million tons that were produced and processed at our operations ... We are also involved in marketing coal produced by others to supplement our own production and, through blending, provide our customers with coal qualities beyond those available from our own production. We are primarily a supplier of steam coal to U.S. utilities for use in generating electricity. We also sell steam coal to industrial plants. Steam coal sales accounted for 98% of our coal sales volume and 89% of our coal sales revenue in 2008. We also sell metallurgical coal to steel producers; metallurgical sales accounted for 2% of our coal sales volume and 11% of our coal sales revenue in 2008."[3]

Foundation set out its core business strategy as being to expand "production capacity at our existing mining operations", undertake the "further development of existing significant reserve blocks in Northern Appalachia and Central Appalachia" and consider "potential strategic acquisition opportunities that arise in the United States or internationally."[4]

Mining Operations

On its website, Foundation Coal states that "Foundation Affiliates operate multiple mines in the Powder River Basin, Northern Appalachia, and Central Appalachia regions, as well as substantial reserves and an idled mine in the Illinois basin that can be returned to service as market conditions warrant."[1] The company operates 12 mines in in Wyoming, Pennsylvania and West Virginia. These mines and the amount of coal they produced in 2008 are[5]:

In 2008 Foundation Coal reported that it produced 69.4 million tonnes of coal.[5]

On February 23, 2010 it was announced that Pioneer Fuels' Horse Creek Surface Mine, which is owned by parent company Foundation Coal, spilled into the Clear Fork River in West Virginia. On February 25 the West Virginia Department of Environmental Protection issued a notice of violation for the spill, which took place in Raleigh County. The Department issued a similar violation in 2007 for a spill by the company.[6][7]

On Carbon Capture and Storage

In its 2008 Annual Report, Foundation Coal's President and COO, Kurt D. Kost, stated that "Elements of the U.S. economic stimulus package could affect coal production and pricing. The proposed additional funding for advanced clean coal technologies is promising. When breakthrough technologies for the capture and storage of carbon dioxide are commercially deployed and demonstrated to be effective, coal-fired electricity will strengthen its leading role in new electricity generation both in the United States and, perhaps more importantly, around the globe—especially in regions that desperately need a secure and plentiful source of affordable electricity."[8]

Affiliations

Contact Details

Foundation Coal Corporation
999 Corporate Boulevard, Suite 300
Linthicum Heights, Maryland 21090
Phone: 410.689.7500
Email: ircommunications AT foundationcoal.com
Website: http://www.foundationcoal.com/

Articles and resources

Related SourceWatch articles

References

  1. 1.0 1.1 Foundation Coal, "Our Company", Foundation Coal website, accessed June 2009.
  2. Mark Peters, "Alpha Natural Resources 2Q Results Soar On Acquisition" wsj.com, August 4, 2010.
  3. Foundation Coal Holdings, "2008 Annual Report", Foundation Coal, page 22.
  4. Foundation Coal Holdings, "2008 Annual Report", Foundation Coal, page 23.
  5. 5.0 5.1 Foundation Coal Holdings, "2008 Annual Report", Foundation Coal, page 11.
  6. http://www.register-herald.com/local/x1765867173/DEP-issues-notice-of-violation-for-surface-mine "DEP issues notice of violation for surface mine"], RegisterHerald.com February 25, 2010.
  7. http://climategroundzero.net/2010/02/black-water-spill-pollutes-thirteen-miles-of-the-clear-fork/ "Black Water Spill Pollutes Thirteen Miles of the Clear Fork"], RegisterHerald.com February 23, 2010.
  8. Foundation Coal Holdings, "2008 Annual Report", Foundation Coal, page 8.

External links


This article is a stub. You can help by expanding it.