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GENERAL49711
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Last modified
8/24/2016 8:29:16 PM
Creation date
11/23/2007 5:20:47 PM
Metadata
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Template:
DRMS Permit Index
Permit No
C1982056
IBM Index Class Name
General Documents
Doc Name
NEWSPAPER ARTICLE INCREASED ORDERS KEEPS TWENTYMILE COAL EMPLOYEES JOBS SECURE
Permit Index Doc Type
GENERAL CORRESPONDENCE
Media Type
D
Archive
No
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Twentymile Coal <br />sale complete <br />~J. MAHIE SPI4SUBRY <br />Spew.! ni !ha• Dai(y RL'~F <br />STEAh1BOAT SPRINGS - <br />Twenn•mile Coal Co. south of <br />Steamboat Springs and eight <br />other coal mines were sold to <br />RAG Intemational Mining for <br />more than 31 billion. <br />Germany-based RAG <br />Intemational Mining announced <br />\\'ednesday it has completed the <br />purchase of Cyprus Atn.•tx Coal <br />Company (CACC) subsidiary of <br />Cyprus Amax Minerals <br />Company, headquartered in <br />Englewood. RAG Intemational <br />bfining is already involved in <br />coal mining operations in <br />Venezuela, Australia and \Vest <br />Virginia. <br />RAG International Dtining <br />acquired CACC through its indi- <br />rectly wholly-owned subsidiary <br />RAG American Coal Comapm•. <br />After the acquisition, CACC was <br />merged into RACC and will con- <br />tinue its mining operations <br />under the RAG name. <br />John De't1ichiei, executive <br />vice president and chief opcru- <br />ing officer (or Cyprus Amax, said <br />the purchase is good news. <br />"Employees at 't\ventymile <br />will see no impacts taha[soever," <br />he said. "RAG is a German com- <br />p;my whose core business is <br />mining, and '1\ventymile will <br />play a m;t_jor role in their <br />future.° <br />Ta~entymile 371 employees <br />will not see any changes in the <br />short term, but Dei\lichiei said <br />they may see the mining opera- <br />tionsgrow in the future. <br />"The mine has a potential to <br />produce more coal;' he said. "It <br />depends on what the market will <br />demand. R'e are ready to capi- <br />talize on growKh opportunities <br />there:' <br />RAG Intemational executives <br />have taken the last several <br />months to familiarize them- <br />seh~es with CACC operations, <br />DeMichiei said. After the acqui- <br />sition of CACC, RACC wiN oper- <br />ate 17 mines in the United <br />Slates that produce more than <br />70 million tons of coal per year, <br />making it one of the major coal <br />producers in the United Suites. <br /> <br />
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