Profits continue to roll in for Western Coal Corp. as the company ramps up production in northern B.C.
The company posted a $20.4-million profit for its third quarter, which ended in December.
"We continue to make great strides to achieve our fiscal 2011 production plan of 6.1 million tonnes by producing over 1.5 million tonnes in the third quarter," said Western Coal president Keith Calder.
He said it keeps them on target to reach their three-year strategy of producing 10 million tonnes by 2013.
Western Coal's revenues for the third-quarter were up 44 per cent to $170.5 million over the same period last year.
In the first nine months of the company's fiscal year, revenues are up 97 per cent to $594 million. During that period the company posted a profit of $81.4 million.
Western Coals produced 4.3 million tonnes of coal during the same period, more than double the previous year.
Spending on equipment, upgrades and expansions totalled $162.3 million.
Surging world demand for metallurgical coal, particularly in Asia -- used in making steel -- has resulted in record prices.
