JULIAN (PRESS RELEASE) - Massey Energy Company (NYSE:MEE) announced today that its Highland Mining Company subsidiary has received a permit from the United States Army Corps of Engineers to begin operation of Highland's new Reylas Surface Mine in Logan County, West Virginia.
The mine will directly employ 103 local residents for approximately 6 years and will produce approximately 1 million clean tons of coal per year. At this production level, approximately $5 million in taxes are expected to be generated for use in Logan County over the life of the operation.
When mining is finished, Highland will use the reclaimed area to create a 235-acre housing site that will be available for local residents affected by emergencies, such as flooding. The site will have paved roads, public water and electric and sewage systems and will be ready for temporary housing in the event of an emergency. This planned post mining land use is part of the Logan County Land Use Master Plan.
"We are pleased to have the opportunity to both provide good paying jobs in Logan County and to create a one-of-a-kind site that will help local residents affected by flooding and other emergencies," said Mike Snelling, Massey's Vice President of Surface Mining. "We appreciate the help and leadership supplied by Governor Tomblin, former Governor Manchin and many Logan County officials in helping to move the project forward."
Highland first applied for the Corps permit in August 2007. Highland received a surface mining permit from the West Virginia Department of Environmental Protection in 2008.
Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P 500 Index.
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