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Regency Mines publishes sales forecast for US coal operation

MET has just resumed metallurgical coal production at Cedar Bluff in the Central Appalachian region in Virginia

coal dump
Met coal is high quality and used in steel making

Regency Mines PLC’s (LON:RGM) 47%-owned associate Mining Equity Trust (MET) has forecast revenues of US$30.5mln for the ten months to June next year.

MET has just resumed metallurgical coal production at Cedar Bluff in the Central Appalachian region in Virginia.

WATCH: Regency Mines forecasts $30mln revenue for its US coal project by next June

Production in September is expected to amount to 59,250 tons, generating revenues of US$2.7mln, based on output levels achieved towards the end of August.

MET expects to sell 692,196 tons of coal over the ten months to next June.

Andrew Bell, Regency chairman, said MET had got off to a good start.and the forecasts for sales and revenues represent a strong base case.

Quick facts: Regency Mines PLC

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