“This resulted in higher average sales prices per ton sold and increased revenues, and allowed us to grow distributions to both ARLP and AHGP unit holders.”
Craft said Alliance expects to post its 11th consecutive year of record financial performance in 2011, but officials still aren't satisfied.
“We have already identified additional growth opportunities,” he said.
Alliance's Tunnel Ridge mine, which is under construction in West Virginia, is expected to begin production next year.
The company recently announced two additional development projects: the Gibson South mine in Indiana and an investment in White Oak Resources, a longwall mining operation being built in Illinois. Both are expected to be in production by 2014.
“With the strength of this lineup, Alliance is excited about the future,” Craft said.
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