Massey increases its production efforts, envisions meteoric prices led by met market

摘要

Massey Energy's board has approved an additional 90 million dollars in capital spending for 2008 to accelerate the company's expansion projects. With the increased funding, Massey now expects to invest approximately 310 million dollars to expand its coal mining operations in Central Appalachia this year. Combined with normal capital spending for maintenance and replenishment, total capital expenditures are expected to be approximately 550 million dollars. Substantially all of the company's capital expenditures are planned to be funded by cash generated from operations.