Vancouver, Canada-based investment company Novadx Ventures Corp. has announced that its wholly-owned subsidiary MCoal Corporation is meeting mine production targets at the Rosa coal mine, located in Blount County, Alabama, US and that sales of cleaned coal have commenced.
The company said that MCoal has been operating the Rosa Mine since the week of April 19, 2010 and has recently commenced shipments to customers in both the coking coal and activated carbon businesses at prices of US$150/mt.
As SteelOrbis previously reported, MCoal has commenced mining operations utilizing a contract triple head auger machine. MCoal expects a single auger machine at full capacity to produce over 145,150 mt per year at the mine site which after washing will yield approximately 122,500 mt of cleaned saleable coal per year. The company expects to produce over 20,000 mt per month or approximately 250,000 mt per year when it starts operating two shifts per day on each of two auger machines.
Once mined, MCoal's metallurgical coal is washed under contract at a nearby coal washing facility, to be sold to a coking coal facility located approximately 43 miles from the Rosa coal mine.