A New Coal Mine Is Opening To Fuel The US Steel Industry

xxjefferson51
By:  @xxjefferson51, 4 months ago
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A new coal mine is opening up in western Pennsylvania, signaling a small reversal of fortune for the beleaguered coal industry.

The Acosta Deep coal mine will create 70 to 100 direct full-time jobs and another 500 indirect jobs, according to Corsa Coal, the company building the mine. The site is expected to produce 400,000 tons of coal a year, mostly for U.S. and Chinese steel companies.

“The opening of the Acosta Deep Mine marks a return to coal industry job creation in Somerset County, Pennsylvania,” Corsa Coal officials said in a statement. “Metallurgical prices have risen to record levels on the strength of strong steel demand and supply scarcity.”

The Acosta mine is the first of four new coal mines slated to open up this year as coking coal prices continue to soar. The price of coking coal, which is used in steel making, doubled in the last year because of supply disruptions in Australia and Chinese policies to curb some coal-fired energy production.


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China also halted coal imports from North Korea and began importing U.S.-mined coal.

Hundreds of coal mines shut down during the Obama administration and thousands of miners lost their jobs under the pressure of stricter federal regulations and decreasing demand for coal.

There were 86,000 coal miners in January 2009, but that number dramatically shrunk to 50,000 just eight years later, according to employment data from the Federal Reserve.

The Acosta mine will begin commercial operations in June. Corsa Coal funded the new mine with private capital and a development grant from the state of Pennsylvania.



Read more: http://dailycaller.com/2017/04/17/a-new-coal-mine-is-opening-to-fuel-the-us-steel-industry/#ixzz4enbumTC0
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Redding Shasta Jefferson USA
link 04/20/17 04:23:46PM @redding-shasta-jefferson-usa:

The Obama war on coal is over.  Those wanting to kill off coal are now going to have to kill off American steel as well to get it.  Not all heavy manufacturing can convert to fracked natural gas.  Perhaps the reason democrats have abandoned the white unionized middle class is that their careers and jobs can't be preserved without coal and fracking and the dems have chosen rich urban limousine liberals over them.  

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Redding Shasta Jefferson USA
link 04/21/17 10:20:27AM @redding-shasta-jefferson-usa:

This is good news for Americans industry and solid middle class jobs.  

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Dean Moriarty
link 04/21/17 10:26:18AM @dean-moriarty:

With an optimistic global forecast for coal things look promising.

https://www.eia.gov/outlooks/ieo/coal.cfm


Overview


In the IEO2016 Reference case, coal remains the second-largest energy source worldwide—behind petroleum and other liquids—until 2030. From 2030 through 2040, it is the third-largest energy source, behind both liquid fuels and natural gas. World coal consumption increases from 2012 to 2040 at an average rate of 0.6%/year, from 153 quadrillion Btu in 2012 to 169 quadrillion Btu in 2020 and to 180 quadrillion Btu in 2040.

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Cerenkov
link 04/21/17 10:27:05AM @cerenkov:

I had wondered where the Chinese were going to get coal after they punished NK.

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Redding Shasta Jefferson USA
link 04/23/17 02:37:40AM @redding-shasta-jefferson-usa:

I see the progressives who wanted to take away a prime energy source and all the workers jobs have nothing to say about king coals revival.  

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