Following the granting of a mine permit on September 9 this year, coal production from the company’s Dillon open cut operation is scheduled to start in November. The first of these shipments is planned to load in December 2004, followed by a second in January 2005.

POSCO produces more than 29 million tonnes of crude steel per annum and is regarded as the world’s most profitable steel producers.

WCCC are also in discussions with POSCO to secure long-term coal supply contracts.

The company is also in advanced discussions with a major European steel producer in connection with securing a long-term contract for the supply for WCCC’s Burnt River PCI and Perry Creek metallurgical coal. Trial shipments to this customer are expected to commence in January 2005.

WCCC currently has more than 250 million tonnes of coal under exploration and development planning in British Columbia.

The company is focused on the development and production for the international markets of five million tonnes of coal per year within five years of its initial operations.