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44 billion tons of coal have been mined from the

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Unformatted text preview: eaked at 39.9 million tons in 2004. The Foidel Creek Mine recently surpassed the Colowyo Mine in historic coal production with more than 141 million tons produced since 1984. Value Although production is down, the total value of Colorado coal is up. Using an average value of $42.42 per ton for coal produced at Colorado coal mines on federal leases, the value of Colorado’s coal production in 2010 was $1.069 billion. The price of coal per ton increased in 2011, from $42 per ton to about $48 per ton. Spot market coal prices have been flat in 2011, but dropped considerably in July 2011, to around $45.94 per ton. The total value of coal produced in 2011 (assuming $48 per ton) is projected to be approximately $1.2 billion, an increase of $130 million over 2010. Employment As of May 2011, about 2,190 coal miners were employed at the state’s coal mines. The Colorado Mining Association reports that overall mine employment dropped from about 2,400 in 2009 to 2,200 in 2010. The May 2011 figure includes the hiring of...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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