JRL Energy, Inc. Announces Sales and Employment Milestones
JRL Energy completes the shipment of its first 1,000,000 tons of clean thermal coal after only 14 months of production and has created over 200 new jobs in Harlan County, KY.
MILTON, Ga. and HARLAN COUNTY, Ky., Oct. 11, 2018 /PRNewswire/ -- JRL Coal, Inc. ("JRL Coal" or the "Company"), a subsidiary of JRL Energy, Inc., (collectively, "JRL"), is pleased to announce that it has completed the shipment of over 1,000,000 clean tons of thermal grade coal and employed over 200 employees since beginning operations in June 2017.
In February 2017, JRL acquired the mining rights of an idle mine and wash plant in Coalgood, Kentucky. The mine had been sitting idle since 2012. After the acquisition, entrepreneurs Jouko Rissanen, Timothy Lusby, and Roger Lusby immediately began preparing the mine to resume operations by acquiring capital equipment, engaging experienced mining and regulatory professionals, and securing long term supply contracts with regional utility and industrial companies.
"After examining the industry, we determined that rising coal prices and a cease on unnecessary federal regulations since the November 2016 Presidential Election, made the opportunity attractive for our long-term investment goals," said Founder and Chief Executive Officer, Timothy Lusby.
JRL began mining and shipped its first two trains of coal totaling 25,000 tons of clean coal from its Coalgood, Kentucky operations. As of September 2018, management scaled its mining operations and is currently mining and shipping over 120,000 tons a month.
The Company recently hired its 200th employee in Harlan County, Kentucky.
"Putting 200 people back to work in Harlan has been personally rewarding. You can sense the optimism that comes with adding jobs and improving the economy in a town that has suffered through the downturn in the coal industry driven by the overreaching federal regulations of the previous eight years," said President and Chief Legal Officer Michael Rozmajzl.
About JRL Energy, Inc.
JRL Energy, Inc., was formed in October 2016 to mine metallurgical and thermal grade coal in southeast Kentucky. The company conducts both surface and underground mining on leasehold interests covering over 15,000 acres and representing over 50 million recoverable tons of coal. JRL holds eleven (11) coal mining permits issued by the Kentucky Department of Natural Resources, including permits to process and wash coal, dispose of waste, and load unit trains. JRL continues to secure coal leases and permits to meet high demand for CAPP (Central Appalachia) clean coal.
SOURCE JRL Energy Inc
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