Signal Peak Energy
Wayne Boich, CEO - Boich Group of Companies
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
In 2008, The Boich Group of Companies and FirstEnergey Utility in Ohio entered into a 50/50 venture to buy the Signal Peak Coal Mine in Montana, previously belonging to the Bull Mountain Coal Company.
Boich and FirstEnergy are really enthusiastic about the Signal Peak Energy Project and the production of high quality coal that they will promote throughout the USA and other Pacific Rim Countries. No cost has been spared in rebuilding and restructuring to get this mine back into operation.
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...
In a single year of fast building, a totally new infrastructure was built and the mine site was transformed from a few older buildings and little external infrastructure to a large industrial complex. The Signal Peak Energy mine site now has a new office, warehouse and shop. Additionally, you will find a new wash plant capable of cleaning 2,000 tons of coal an hour, two massive storage silos as well as an extensive conveyor system and of course the railroad spur.
The brand new railspur servicing 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.
Photo Gallery
More about Signal Peak Energy and Wayne M. Boich
The Signal Peak Mine employs 190 people and is expected to supply 7 million tonnes of coal per year. This is around one-third of the coal needed by FirstEnergy who have signed a 20 year contract with Signal Peak Energy. At maximum capacity, the Signal Peak mine can load 7 trains each 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 compared to 8,000 Btus. Meaning FirstEnergy can ship less coal to produce exactly the same energy, which helps compensate for railroad shipping costs. It is this combination which will allow coal to be reasonably competitive with alternative fuels in Ohio.
The brand 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 and a small number of Montana politicians.
Signal Peak Energy Foundation and Environment
