Should take off after Swan Pond permit in final stKentucky Operations
North American Gem Inc. currently has two fully-permitted mines in Kentucky.
- Mine #1, located in Whitley County, is being auger mined through contour mining methods with an approximate capacity of 12,000 tons of coal per month.
- Mine #2, located in Knox County, was acquired on March 31, 2010. It is fully permitted, and production of Blue Gem and Jellico coal will begin as soon as the lease is transferred.
North American Gem Inc. has a strong foundation for future development in Kentucky with three pending mining permits, additional leases currently being explored, and favourable infrastructure near the mine sites.
One lease of particular interest is
Swan Pond, which is in the final stages of the permit process. Once permitted, North American Gem Inc. expects to be able to mine 25,000 tons of coal per month using highwall techniques. This additional capacity will solidify North American Gem Inc. as a significant player in the Kentucky coal market and produce revenue and cash flow to the company.