Profile: Walter Energy Inc (WLT.N)
10.79USD
4:00pm EDT
$-0.40 (-3.57%)
$11.19
$11.79
$11.84
$10.68
1,328,154
1,329,290
$41.31
$9.88
Walter Energy, Inc., incorporated on August 6, 1987, is a producer and exporter of metallurgical coals for the global steel industry. The Company also produces thermal coal and industrial coal, anthracite, metallurgical coke, coal bed methane gas (natural gas) and other related products. The Company operates in two segments: the Company's United States operations segment and its Canadian and United Kingdom operations segment. United States operations segment includes the operations of the Company's underground mines, surface mines, coke plant and natural gas operations located in Alabama and its underground and surface mining operations located in West Virginia. The Canadian and United Kingdom operations segment includes the operations of surface mines in Northeast British Columbia (Canada) and an underground mine and surface mine in South Wales (U.K.)
United States operations segment
The Company's Alabama mining operations mine metallurgical coal from both underground and surface mines. At the Company's legacy Alabama underground mining operations the Company mines high quality metallurgical coal from the Blue Creek coal seam. The Company's mining operations in Alabama consist of two underground hard coking coal mines in Southern Appalachia's Blue Creek coal seam, one underground thermal coal mine (the North River Mine), one surface hard coking coal mine (the Reid School Mine) and two surface hard coking and thermal coal mines (the Swann's Crossing Mine and the Choctaw Mine). The Company's legacy Alabama underground mines are 1,400 to 2,100 feet underground. Metallurgical coal mined from the Blue Creek seam contains very low sulfur, has coking properties and high heat value making it ideally suited as a coking coal for steel makers. The Alabama operations also mine thermal coal for sale to industrial and electric utility customers at the Company's surface mines and the underground North River Mine. During the year ended December 31, 2012, the Alabama mining operations produced 6.5 million metric tons of hard coking coal and 2.7 million metric tons of thermal coal. The United States operations segment also extracts methane gas, principally from the Blue Creek coal seam.
The Company’s United States operations segment includes hard coking coal and thermal coal mines in both Alabama and West Virginia, a coke plant in Alabama, and coal bed methane extraction operations also located in Alabama. Metallurgical coal production totaled seven million metric tons and thermal coal production totaled 3.1 million metric tons in 2012. As of December 31, 2012, the Company had 1,746 wells that produced approximately 18.1 billion cubic feet of natural gas in 2012. The Company operates three surface mines in Alabama. The Choctaw Mine is located near Parrish in Walker County, Alabama and produces thermal and hard coking coal. The mine has an onsite rail facility serviced by Norfolk Southern rail. The Reid School Mine is located in Blount County, Alabama and primarily produces hard coking coal. Hard coking coal mined at the Reid School Mine is primarily sold to the Company's Coke plant and underground mining operations for resale. The Swann's Crossing Mine is located in Tuscaloosa County near Brookwood, Alabama and produces both hard coking and thermal coal. The mine has access to the Company's barge load-out facility on the Black Warrior River. The Company also own other surface mine coal reserves including the Flat Top surface mine. Additionally, the Company operates the, Walter Coke Plant, located in Birmingham, Alabama. The plant's product line is metallurgical coke, which includes coke for furnace and foundry applications.
The Company's West Virginia mining operations operate a rail-loading facility and utilize an extensive network of public roads to transport coal to markets or independent river terminals for transfer to barges along the Kanawha River. In 2012, the West Virginia mining operations produced approximately 480 thousand metric tons of metallurgical coal and 390 thousand metric tons of thermal coal. The Maple Coal mines, located in Fayette and Kanawha counties and the Gauley Eagle mines located in Nicholas and Webster counties of West Virginia are estimated to contain approximately 46.3 million metric tons of recoverable reserves within the Appalachian coal-producing region as of December 31, 2012. Coal produced at the Maple and Gauley Eagle surface mines is primarily sold in the thermal market.
Canadian and United Kingdom operations segment
The Canadian mining operations operate three surface metallurgical coal mines in Northeast British Columbia's coalfields (the Wolverine Mine, the Brule Mine, and the Willow Creek Mine). Within British Columbia, the Company holds the right to two multi-deposit coal property groups: the Wolverine group, including the Perry Creek (Wolverine Mine), EB and Hermann deposits, and the Brazion group, including the Brule Mine and the Willow Creek Mine and less explored portions of these properties and adjacent properties. The Company also has a 50% interest in the Belcourt-Saxon multi-deposit coal property groups. The Company's Canadian operations are estimated to have approximately 135.8 million metric tons of recoverable coal reserves including 72.1 million metric tons at potential future mine sites as of December 31, 2012. The Brule surface mine is located near the town of Chetwynd and produces a grade low-volatile pulverized coal injection (PCI) coal. Additionally, the Company has a 50% interest in the Belcourt Saxon Coal Limited Partnership which includes two multi-deposit metallurgical coal properties comprising approximately 28.5 million metric tons of recoverable reserves which are located approximately 40 to 80 miles south of its Wolverine mine.
The Canadian mines are located adjacent to or nearby existing infrastructure established for the Northeast British Columbia coalfields, including established rail and road networks that are available all year round. Coal produced from the mines is shipped by rail to a coal terminal facility at the Port of Prince Rupert, British Columbia. The United Kingdom mining operation mined anthracite coal from its underground mine and thermal coal from its surface mine. All coal mined is processed at the Company's nearby preparation plants where both road and rail coal transportation are available. In 2012, the Canadian and United Kingdom mining operations produced two million metric tons of hard coking coal and 2.5 million metric tons of low volatile PCI coal. The Company's United Kingdom underground operation is estimated to have approximately 15.5 million metric tons of recoverable reserves as of December 31, 2012.
Company Address
Walter Energy Inc
Suite 1700, 3000 Riverchase Gall
BIRMINGHAM AL 35244
P: +1205.7452000
F: +1302.6555049
Company Web Links
| Name | Compensation |
|---|---|
Michael Tokarz |
-- |
Walter Scheller |
3,875,410 |
William Harvey |
-- |
Daniel Cartwright |
-- |
Richard Donnelly |
-- |

