Massey Energy Begins Construction of Marianna Plant

JULIAN, W.Va., Nov. 18, 2010 /PRNewswire/ -- Massey Energy Company (NYSE: MEE) today announced that construction has begun on its new Pineville Processing Plant which is part of its Marianna property located in Wyoming County, WV.

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As part of the Company's efforts to continue developing high quality reserves that will increase metallurgical coal production, the Company has begun construction of a 700 tons per hour processing plant featuring two (2) 10,000 ton clean coal silos and a 25,000 ton raw coal stockpile area.  The estimated cost is $65 million and is included in 2010 and 2011 CAPEX guidance.

The plant is expected to be completed in the third quarter of 2011 and will initially process high quality, 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.

"The addition of our new Pineville Processing plant will enhance our position as a leading supplier of high quality met coal," said Don L. Blankenship, Chairman and CEO.  "With the global met market expected to remain strong, this new investment will help us meet customer needs and is part of our previously announced metallurgical coal expansion initiative."

Massey Energy Company, headquartered in Richmond, Virginia, with operations in West Virginia, Kentucky and Virginia, is the largest coal producer in Central Appalachia and is included in the S&P 500 Index.  

FORWARD-LOOKING STATEMENTS: Certain statements in this statement constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to come within the safe harbor protection provided by those sections. Any forward-looking statements are also subject to a number of assumptions regarding, among other things, future economic, competitive and market conditions. These assumptions are based on facts and conditions as they exist at the time such statements are made as well as predictions as to future facts and conditions, the accurate prediction of which may be difficult and involve the assessment of circumstances or events beyond our control. We disclaim any intent or obligation to update these forward-looking statements unless required by securities law, and we caution the reader to not rely on them unduly. Additional information can be found in press releases and Massey's public filings with the Securities and Exchange Commission, including Massey's Annual Report on Form 10-K for the year ended December 31, 2009, which was filed on March 1, 2010, and subsequently filed interim reports.

SOURCE Massey Energy Company