Hamilton Beach 2010 Annual Report Download - page 13

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Longer-Term Perspective
NACoal expects to continue its record of
operational excellence in safety, environmental
stewardship and production at each of its mining
operations and, over time, deliver profits that
exceed its financial objectives.
NACoal’s vision is to continue to be a leading
low-cost miner of coal used in power generation,
coal-to-liquids, coal gasification and activated carbon
plants and to provide selected value-added mining
services for companies in the aggregates business.
Over the longer term, NACoal expects to continue its
efforts to develop new mining projects. The company
is actively pursuing domestic opportunities for new
coal mining projects. However, the company also
expects to strengthen its position in value-added
mining services in the international mining arena
in future years because of expected rapid growth in
international coal mining activities as developing
countries expand low-cost coal-fired power generation.
New U.S. mining opportunities, on the other hand,
are expected to be more limited, with any significant
growth dependent on the United States adopting a
balanced energy policy in which coal continues to
play a key role. NACoal actively monitors pending
regulations and legislation to try to ensure that
reasonable actions are taken. The company believes
that coal must remain an integral part of the nation’s
total energy mix for the United States to continue
to be fully competitive in a global economy. NACoal
will also continue to take a leadership role in helping
balance energy needs with environmental responsi-
bility. The company is actively associated with several
organizations involved in evaluating and studying
various clean-coal technologies, some of which are
funded by the Federal government. Also, one of
NACoal’s customers, Basin Electric, is a pioneer in the
carbon capture process, which it employs at its Dakota
Gasification facility to pipe CO2to Canada for enhanced
oil and gas recovery. Further, most of NACoal’s new or
potential coal-fired power plant customers, such as
Mississippi Power, include carbon capture in their new
coal project plans. The company continues to believe
that new power plant technologies, such as integrated
gasification, combined cycle power generation and
production of alternative fuels made from coal, will
provide important opportunities in the future.
Overall, NACoal sees sound long-term prospects
for additional mining opportunities. Also, as the
company’s new mines currently under construction
begin operating, NACoal expects improved profitability
over the long term. This enhanced financial perform-
ance is expected to provide a solid base for NACoal to
continue attaining its long-term financial targets.
Above left: A truck/shovel operation uncovers coal
in the pit of the Red Hills Mine in Mississippi.
Above right: An Easi-Miner mines lignite coal from
the ground into a Kress haul truck at The Sabine
Mining Company in Texas.
Bottom right: A Wirtgen coal miner loads coal into
a Caterpillar dump truck at the Red Hills Mine in
Mississippi.