Signal Peak Mine
Signal Peak Energy - Wayne M. Boich, Boich Group
Wayne Michael Boich, Chairman is Chief Executive Officer of the Boich Group of Companies. The Boich Group of Companies is headquartered in Columbus, Ohio. It is a coal marketing company and a co-owner of the Signal Peak Mine in Montana. Mr. Boich became Chairman and CEO of the Boich Group of Companies in March 2005. Mr. Boich joined the company in 1999 and worked in marketing and finance before becoming Chairman and CEO. Under Mr. Boich’s leadership the company has grown significantly and into the international market with the acquisition of Signal Peak.
Introduction
Signal Peak Energy would be the partnership between Wayne Boich and FirstEnergy, an Ohio located utility company. In the spring of 2008, Boich and FirstEnergy decided to buy the Signal Peak Coal Mine. The mining venture can be found to the south of Roundup in Montana. The mine had been owned by the Bull Mountain Coal Co but, in spite of hoping to reopen the mine during the early 1990s, they were not successful and their attempts ended in a few lawsuits.
Boich and FirstEnergy are certainly excited about the Signal Peak Energy Project and the output of the best quality coal which they will promote all over the USA and other Pacific Rim Countries. No cost has been spared in rebuilding and restructuring to get this mine back into operation.
Press Information
Aug 2012
Signal Peak coal sales profitable despite price slump-Gunvor
Reuters
LONDON, Aug 8 (Reuters) - Energy trader Gunvor is considering selling equity stakes in the U.S. Signal Peak coal mine, after approaches by several Asian end users, a senior company executive said.
June 2012
Signal Peak Energy’s Bull Mountain Mine has Pulled it Together and is Pulling Ahead
Coal Age
Bituminous coal mining in Montana’s Bull Mountains, 30 miles north of Billings, Mont., began late in the 19th century when western railroads tapped coal from local seams for their hungry steam locomotives.
Sept 2009
Dignitaries get close up look at new rail line, mine
Billings Gazette
After an investment of $408 million and a year of rapid construction, the first coal train will leave the Signal Peak Energy Mine near Roundup next week, carrying the first load of low-sulfur Montana coal east to an Ohio utility.
Oct 2010
FirstEnergy and Boich Companies Sell Partial Interest in Signal Peak Coal Mine to Gunvor Group
AKRON CEO
The FirstEnergy Corp.and Boich Companies subsidiaries that jointly own the Signal Peak coal mine inMontanaannounced that Pinesdale LLC, a fully owned subsidiary of the Gunvor Group, Ltd., one of the world's leading commodity traders, has purchased a one-third interest in the venture for$400 million.
Nov 2011
McDermott Acts for Gunvor Group in its Purchase of USD $400 Million Share in Signal Peak Coal Mine
McDermott, Will & Amery
LONDON AND NEW YORK (3 November, 2011) — International law firm McDermott Will & Emery LLP represented Gunvor Group, Ltd., one of the world's leading commodity traders, in its subsidiary’s purchase of one-third interest in Signal Peak coal mine in Montana from the subsidiary joint venture owners FirstEnergy Corp. (NYSE: FE) and Boich Companies. The acquisition was successfully closed for a total purchase price of USD $400 million.
Signal Peak Energy continued...
Signal Peak Energy is a partnership between Wayne Boich, FirstEnergy an Ohio based utility company, and Gunvor Group Ltd one of the world's leading commodity traders.
In the spring of 2008, Boich and FirstEnergy purchased the Signal Peak Coal Mine. The mining project is located 12 miles south of Roundup in Montana. Gunvor Group Ltd purchased a one third share of the mine in 2011. Each partner now owns a one third share.
Boich Companies, FirstEnergy and Gunvor Group Ltd are committed to make it the most successful underground mine of its kind in the country with the coal being marketed all across the United States of America as well as the Pacific Rim Countries.Photo Gallery
More about Signal Peak Energy
The Signal Peak mine is an underground mine located 12 miles south of Roundup, on the border between Musselshell and Yellowstone counties. There are currently over 300 employees. The mine recovers coal using an underground continuous miner and longwall panels. A preparation plant processes run-of-mine coal into clean (shippable) coal. A 5.7 mile railroad spur and loadout facility is located adjacent to the mine. A 35 mile rail line runs from the mine to the BNSF main rail line at Broadview, Montana. At maximum capacity, the Signal Peak mine can load seven trains per day of 120 to 150 cars. Signal Peak’s coal has been found to produce more heat per ton than Powder River coal: 10,300 British thermal units compared to 8,000 Btus.
In its initial year of construction, a whole new infrastructure was built and the mine site was transformed from a few older buildings and little external infrastructure to a large industrial complex. The Signal Peak Energy mine site now consists of a new office, warehouse and shop. In addition, there is a new wash plant capable of cleaning 2,000 tons of coal an hour, two storage silos and an extensive conveyor system.Signal Peak Energy Foundation and Environment
