Major Pa. anthracite coal mine project to be financed by $1 million grant

MOUNT CARMEL - Coal could be coming out of the ground as early as next month at what is described as the largest current development in the commonwealth's anthracite region.

The rain has to let up for that to occur, Gregg Driscoll, president and chief executive officer of the Blaschak Coal Co., said Tuesday.

The company, based in Mahanoy City, is in the process of reopening an old surface mine north of Route 61 between Mount Carmel and Centralia in Columbia County. "We're excited about it," he said.

The state recently approved a $1 million Redevelopment Assistance Capital Program grant to help fund the project. The company sought $4.5 million.

Blaschak, owned by Milestone Partners Inc., a Radnor-based investment firm, expects to spend $13 million to reopen and provide equipment for the mine, Driscoll said. It already has invested a little more than $10 million, he said.

Preparation work includes removing material placed in the pit by the owner, Mallard Contracting, as part of a reclamation process, Driscoll said.

Blaschak has signed a 20-year-lease with the Helfrick family that owns Mallard and anticipates mining between 200,000 and 300,000 tons of ready-to-burn anthracite annually, he said.


Link: https://www.pennlive.com/news/2018/09/1_million_state_grant_helping.html


Just some prospective:

Coal rail car holds ~100 tons of coal so were talking about 5-9 rail cars per day production
Anthracite coal price in PA: $150/ton Est Value: $30-45M/yr
25-30 Union Jobs @ $65k to $85k per year, Est Payroll $1.6M - $2.55M per year