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CanAm keeps on trucking

CANADA-based miner CanAm continued a positive sales streak in August, posting final numbers just ...

Donna Schmidt
CanAm keeps on trucking

The producer, which has active operations in Colorado and Alabama, sold 65,500 tons last month – just one month after hitting its 67,500t July record.

Officials called the achievement evidence of its ability to produce and sell its monthly goal of 60,000-70,000t.

It said recent totals are a substantial increase from its average sales in the first and second quarters of 50,000t and 56,000t respectively.

The company said total sales to date for the third quarter were 133,000t, compared year on year to 103,000t – a 30% spike.

CanAm president and chief executive officer Jos De Smedt said the TSX-listed producer was extremely pleased with the performance.

“We are increasingly confident that we can maintain this pace for the remainder of 2013 and into 2014,” he said.

“With steady state and consistent production at our mines, we are now looking to optimise our cost structure and drive operational efficiencies across all of our mines.”

CanAm’s main activities and assets include its four operating coal mines in Alabama – Old Union 2, Knight, Posey Mill 2 and Powhatan – and the Buick coal project in Colorado, which holds 188 million tons of indicated resources and 103Mt of inferred resources.

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