Mine project gets tax breaks from Tuscaloosa Co.
TUSCALOOSA, Ala. (AP) — An underground coal mine project to be developed over the next six years has been granted significant tax incentives.
The Tuscaloosa News reports (http://bit.ly/OMgsKL ) Hoover-based Walter Energy has been granted about $25 million in tax abatements by the Tuscaloosa County Industrial Development Authority for the $1.2 billion project. The development will touch four Alabama counties, but most will be in northern Tuscaloosa County, where the mine will be located. It includes about 20,400 acres on the surface of the underground coal reserves.
The mine will produce between 3 million and 4 million tons of metallurgical coal each year and is projected to be in production for 40 years. Metallurgical coal is a valuable, low-sulfur coal used to make steel.
The coal will be shipped from Mobile mostly to South America with some going to Europe.
Information from: The Tuscaloosa News, http://www.tuscaloosanews.com