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AK Steel to spend $60M on mines

FRIEDENS, Pa. — AK Steel plans to spend $60 million to develop new coal mines in southwestern Pennsylvania through a company it purchased in October.

AK spokesman Alan McCoy said the company is developing a mining plan after purchasing privately-held Solar Fuel of Friedens, Somerset County.

A new entity called AK Coal Resources will seek mining permits from the Pennsylvania Department of Environmental Protection, which McCoy expects to take about 18 months.

McCoy said the company will then spend $60 million developing the new mines between 2013 and 2015, much of that “capital equipment for starting up mining operations and all ancillary equipment.”

McCoy said he couldn’t say how many employees might be hired.

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