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Press Release Source: Quest Minerals & Mining
Quest Minerals & Mining Initiates Coal Production At Pond Creek
Wednesday July 9, 2:21 pm ET
PATERSON, N.J., July 9, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTC BB:QMNM.OB - News) (Frankfurt:QMNB.F - News), a Kentucky based operator of energy and mineral related properties, is very pleased to announce that its Pond Creek Location has commenced its coal production operations as of Wednesday, July 9, 2008.
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Eugene J. Chiaramonte, Jr., President of Quest Minerals and Mining Corp., stated, ``I am ecstatic to announce that after a lengthy five month rehabilitation process, we have begun mining coal at our Pond Creek location. Despite a number of delays and setbacks experienced in bringing the property online into the coal production stage, we feel that production could not have come at a better time given the recent surge in global coal prices.''
According to GlobalCoal.com, the weekly index for power-station coal priced at the port in New South Wales (Australia) gained $22.69 to $194.79 per metric ton in the week ended July 4 for a record 6th week of increases.
The Pond Creek location is expected to be in full production mode within the next few weeks. Management aspires to then shift strategic focus towards bringing its Cedar Grove mine online.
Everett Hampton, President of Whitestar Mining, LLC stated, ``I am pleased to announce that coal is now being mined at our Pond Creek location. Once full production is achieved, we anticipate to mine approximately 1,500 - 2,000 raw tons of coal per day. In addition, we expect very similar output from our Cedar Grove property once it is brought online.''
