Walter Energy Inc (WLT.N) have reported that its year-to-date sales
volumes are exceeding the recorded increase in 2008. And demand for steel
making coal have not decreased. Athough, earlier in 2009, WLT.N had shut
down its failing and loss-making building, focusing on natural
resources.
The coal miner expects to supply about 6.4 million tons of coal in 2009
compared with 5.8 million tons sold in 2008.
Chief Executive Victor Patrick, on a conference call with analysts said,
"In short we returned to a situation where our sales are limited not by
customer demand, but by our production and inventory".
The company's focus is to sell about 1.6 to 1.7 million tons of coal and
start longwall mining in one of its mines by December.
Also, analyst Daniel Mannes of Avondale Partners LLC had this to say - "It
is pretty clear that business is obviously getting better for Walter...
they are in a dramatically different situation than they were in about 3
to 6 months ago ".
| 
