BRITISH COLUMBIA - Not all the news over the last week from PINE VALLEY MINING of Vancouver is terrible, but two of the three releases indicate setbacks in mining and processing. The company owns the Willow Creek open pit and wash plant near Chetwynd.
Most recently, the company says it has determined that the coking coal pit contains three times more oxidized coal than previously anticipated. Pine Valley says the oxidized material will amount to 113,000 tonnes out of total raw coal production of 482,000 tonnes during the last three months of this year. Markets for oxidized coking coal are limited because oxidation impairs the coal's coking properties, and the company cannot treat it in the wash plant; it may, however, be sold as thermal coal.
Pine Valley has also reported that it has hired an independent consulting firm to identify methods of improving coal recovery at its wash plant. Of particular concern are fines loses. The firm has made preliminary recommendations, and Pine Valley plans to implement the necessary changes.
On a positive note, Pine Valley and its mining contractor TERCON MINING have negotiated a new contract that will run through June 2007.
Further information is available from Pine Valley's VP finance Martin Rip at 604-682-4678 or pinevalley@pinevalleycoal.com.
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