Birmingham, Alabama-based Walter Energy, Inc., one of the world's largest metallurgical coal producers, reported Friday that it has lowered its expectations for projected growth in 2012. In 2012, Walter Energy's projected growth of 11.5 to 13 million metric tons (mt) of met coal is down from prior expectations of 13 to 14 million mt. "Inherent risks of the mining business" was cited as one of the factors that lead Walter Energy to drop its expectations.
In 2011, Walter Energy produced 8.7 million mt of met coal; Walter's expected 2012 production represents an increase of 19 to 34 percent from 2011 production levels.