Monday, Sep 26, 2016
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Energy

FirstEnergy in venture to acquire coal mine

AKRON FirstEnergy Corp. and a coal firm based in Ohio said yesterday they will spend $450 million to acquire a controlling interest in a central Montana coal mine.

Boich Cos., of Columbus, said it and FirstEnergy have acquired 80 percent of the Bull Mountain mine. The partners also acquired 100 percent of rights of way for a planned railroad.

FirstEnergy, parent firm of Toledo Edison, said it expects the joint venture to result in a 50-fold increase in coal production, to at least 13 million tons a year within the next several years.

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