Signal Peak Energy
Wayne Boich, CEO - Signal Peak Energy
Wayne M. Boich is a man with vision, who has a deep concern for the community, society and the environment. These combined factors make him a powerful and articulate business man.
Introduction
Signal Peak Energy would be the partnership between Wayne Boich and FirstEnergy, an Ohio run utility company. Early in the year of 2008, Boich and FirstEnergy bought the Signal Peak Coal Mine. The mining project can be found towards the south of Roundup in Montana. The mine used to be owned by the Bull Mountain Coal Co but, even though trying to reopen the mine in the early 1990s, the company was unsuccessful and their efforts resulted in several lawsuits.
Press Releases
Sept 2009
Dignitaries get close up look at new rail line, mine
Billings Gazette
After an investment of $408 million and a year of rapid construction, the first coal train will leave the Signal Peak Energy Mine near Roundup next week, carrying the first load of low-sulfur Montana coal east to an Ohio utility.
Oct 2010
FirstEnergy and Boich Companies Sell Partial Interest in Signal Peak Coal Mine to Gunvor Group
AKRON CEO
The FirstEnergy Corp.and Boich Companies subsidiaries that jointly own the Signal Peak coal mine inMontanaannounced that Pinesdale LLC, a fully owned subsidiary of the Gunvor Group, Ltd., one of the world's leading commodity traders, has purchased a one-third interest in the venture for$400 million.
Nov 2011
McDermott Acts for Gunvor Group in its Purchase of USD $400 Million Share in Signal Peak Coal Mine
McDermott, Will & Amery
LONDON AND NEW YORK (3 November, 2011) — International law firm McDermott Will & Emery LLP represented Gunvor Group, Ltd., one of the world's leading commodity traders, in its subsidiary’s purchase of one-third interest in Signal Peak coal mine in Montana from the subsidiary joint venture owners FirstEnergy Corp. (NYSE: FE) and Boich Companies. The acquisition was successfully closed for a total purchase price of USD $400 million.
Signal Peak Energy continued...
Boich Companies and FirstEnergy are equal partners in Signal Peak Energy and have spent a great deal of cash on the Signal Peak Project to help get the mine back up and running effectively. They are going to ensure it is the most successful underground mine of this type in the country with the coal being marketed all over the United States of America along with the Pacific Rim Countries.
Following a busy year of construction, the Signal Peak Energy mine site is now a totally different place to what it had been. A completely new infrastructure has been introduced and the site converted into a modern industrial complex featuring its own railroad spur. The complex now includes a shop, warehouse, new offices, storage silos as well as a large conveyor system. There is the addition of an impressive new wash plant which is able to clean 2,000 tons of coal each hour.
Photo Gallery
More about Signal Peak Energy and Wayne M. Boich
The brand new railspur serving the Signal Peak Energy Mine is 36 miles long and connects with the BNSF main line just south of Broadview. This new crossing was named "Walter', in honor of the world's oldest man who had worked for the Great Northern Railway.
The Signal Peak Mine hires 190 people and it is anticipated to supply 7 million tonnes of coal every year. This is around one-third of the coal needed by FirstEnergy who've signed a 20 year contract with Signal Peak Energy. At highest efficiency, the Signal Peak mine can load 7 trains every day of 120 to 150 cars. Montana coal has been found to create more heat per ton than Powder River coal: 10,300 British thermal units in comparison to 8,000 Btus. Meaning FirstEnergy can ship less coal to produce the same energy, which will help compensate for railroad shipping costs. It is this combination that will allow coal to be competitive with alternative fuels in Ohio.
The new Signal Peak Mine and Railroad Junction was opened by top executives from BNSF Railway, FirstEnergy, The Boich Group, Signal Peak Energy, Gov. Brian Schweitzer along with a limited number of Montana politicians.
Signal Peak Energy Foundation and Environment
