Signal Peak Energy
Wayne Boich, CEO
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 partnership to purchase the Signal Peak Coal Mine in Montana, formerly belonging to the Bull Mountain Coal Company.
Boich and FirstEnergy are really excited about the Signal Peak Energy Project and the output of good quality coal which they will promote throughout the USA along with 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...
Following a busy year of construction, the Signal Peak Energy mine site is now a completely different place to what it had been. A completely new infrastructure has been introduced and the site converted into a modern industrial complex with its own railroad spur. The complex now includes a shop, warehouse, new offices, storage silos as well as a big conveyor system. There is the addition of an impressive new wash plant that is able to clean 2,000 tons of coal each hour.
The 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.
Photo Gallery
More about Signal Peak Energy and Wayne M. Boich
The Signal Peak Mine is a big project and the team onsite consists of 190 employees. Estimated projections for the mine is an annual coal supply of 7 million tons. When running at full capacity, the mine can fill 7 trains each day with each train comprising 120-150 cars. Signal Peak Energy has guaranteed a 20 year contract with FirstEnergy and with Montana coal generating more heat per ton than Powder River coal, it is going to mean that FirstEnergy should ship less coal for the same energy production. This will help make coal very competitive with many other alternative fuels.
The opening of the Signal Peak Mine and Dedication of the railroad junction was commemorated by an illustrious group from The Boich Group, Signal Peak Energy, FirstEnergy, Montana politicians, BNSF Railway executives and Governor Brian Schweitzer.
Signal Peak Energy Foundation and Environment
