November 23, 2010 (FinancialWire) (http://www.financialwire.net/) — Massey Energy Co. (NYSE: MEE) said that construction has begun on its new Pineville Processing Plant, which is part of its Marianna property located in Wyoming County, West Virginia.

The company said it has begun construction of a 700 tons per hour processing plant featuring two 10,000 ton coal silos and a 25,000 ton raw coal stockpile area as part of efforts to continue developing reserves that will increase metallurgical coal production.

Massey estimates the cost at $65 million and said that the expenditure is included in 2010 and 2011 CAPEX guidance.

The plant is scheduled to be completed in the third quarter of 2011 and will initially process low-vol metallurgical coal from the company's Guyandotte operation and currently being developed Sewell seam.

In 2012, the plant will also process coal from two underground miner sections operating in a 45 million ton reserve base that is contiguous to Guyandotte.

Virginia-based Massey Energy is a coal producer with operations in West Virginia, Kentucky and Virginia.  

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