By St. Louis Business Journal recently acquired Montana reserves. The terminal, a former aluminum smelter site, is currently operated as a bulk commodity facility. Millennium Bulk Terminals continues to work on obtaining the required approvals and necessary permits to complete dredging and other upgrades to enable coal, alumina and cementitious material shipments through the brownfield terminal, Arch said. Once completed, coal shipments could begin in 2012. The terminal development project should create 120 temporary jobs during the build-out of the facility, and ultimately would result in 70 permanent jobs from ongoing operations at the terminal, Arch said. The construction of the export facility will generate $2.7 million in sales tax revenue for Washington state and county governments, while expected income tax revenue, once the facility is fully operational, will provide $1.2 million annually for state and county governments, according to Arch.
Encompassing more than 400 acres, the industrial site offers the potential for terminal expansion should market demand warrant, Arch said.Millennium Bulk Terminals recently completed the purchase of the marine terminal from Chinook Ventures Inc. Australia-based Ambre Energy owns the remaining 62 percent of the terminal. Ambre Energy is a mining and technology company with coal and oil shale resources in Australia and the United States. Late Tuesday, Arch cut its earnings guidance for 2010 in response to lower shipments. On Monday, a judge rejected Arch's attempt to dismiss lawsuits filed last year by four environmental groups challenging the St. Louis companyâ¿¿s $86 million lease with Montana. St. Louis-based Arch Coal Inc. (NYSE: ACI) is the second-largest U.S. coal producer, fueling roughly 8 percent of the nation's electricity. Copyright 2011 American City Business Journals http://www.bizjournals.com/stlouis/news/2011/01/12/arch-coal-buys-west-coast-terminal.html?ana=thestreet