December 30, 2011 / 7:13 PM / 7 years ago

UPDATE 1-Cline says full commercial production starts at Colorado mine

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Dec 30 (Reuters) - Cline Mining Corp said it is bringing its New Elk metallurgical coal mine in Colorado, United States, into full commercial production, sending its shares up 9 percent.

The company said it expects to attain an annual production rate of 3 million tons of saleable coal in the first half of 2012, but projected production during calendar year 2012 at 2.5 million tons.

Cline expects to produce at an annual rate of 3 million tons from 2013.

The Toronto-based company expects production to the end of December at the Colorado mine to be about 30,000 tons of saleable coal.

Shares of the company were up 7 percent at C$1.54, after rising to a high of C$1.57 in afternoon trade on the Toronto Stock Exchange. (Reporting by Shounak Dasgupta in Bangalore; Editing by Unnikrishnan Nair)

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