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Walter Energy starts producing coal that’s part of $175M expansion

Coal producer Walter Energy said Tuesday it has started production at one of its mines and expects to produce two million tons next year.

The new production comes from a $175 million expansion that will increase Walter Energy’s rated capacity for premium coking coal to approximately 9.5 million tons in 2012.

Walter Energy, which is based in Tampa, Fla., produces and exports coal for the global steel industry. Company stock increased $1.30, or 1.8 percent, to $74.78 a share in Tuesday trading.

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