“Our fourth quarter operations were on plan, resulting in record shipments and record adjusted EBITDA for the full year 2011,” said Colin Marshall, president and CEO. “In 2011, we focused on maximizing our export opportunities, substantially increasing our reserve base and controlling costs with great success.”
Cloud Peak Energy’s reserve base increased as well. Proven and probable reserves increased to 1.37 billion tons, up from 970 million tons at year end 2010 due to the successful acquisition of coal leases at the Antelope mine in Wyoming.
