PRESTONSBURG – The Floyd County Board of Education may be getting into the coal business.
The board was set to meet in special session Thursday evening as of press time to discuss what to do with deposits of coal found at the construction site for the new Floyd County Central High School.
According to records at the board, officials will be voting on whether or not to consider the newly discovered reserves of coal at the site as surplus and enter into an agreement with a company to split the sales of the coal once it’s taken to market.
Greer Mining will load the coal into trucks and then sell it at market value, with money from those sales being split equally between the mining company and the school board. The agreement would apply to any future coal possibly found at the location, as well.
Email exchanges between Floyd Schools Superintendent Henry Webb and Director of Facilities Greg Adams reflect the effort of school officials in determining the added financial boost the coal sales could bring.
“It is estimated it would take $20 per ton to clean up and truck,” Adams wrote Webb. “That would leave $10 to split between Greer and the board.”
Adams continued in another email exchange to say he had worked with a source in Pike County to determine how much the coal may bring at market.
“I touched base with one of my sources in Pike County,” continued Adams. “He told me that recent purchase prices for washed coal was about $30 per clean ton.”
A chart included in the board records show that there are three separate seams of coal at the construction site. One referred to as Amburgy covers 3.54 acres and is projected to have 4,523 recoverable tons of coal. A second, Fireclay Leader, covers just over an acre and would bring 2,846 tons of coal, while a third, Little Fireclay, also covering just over an acre of land, would bring a projected 1,583 tons.
The grand total would be 8,952 tons of recoverable coal, bringing the possible sales to be split in at about $257,000.
Sheldon Compton is a staff writer at The Floyd County Times. He can be reached at (606) 886-8506.