PATERSON, N.J., July 9, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTCBB:QMNM) (Frankfurt:QMNB), a Kentucky based operator of energy and mineral related properties, is very pleased to announce that its Pond Creek Location has commenced its coal production operations as of Wednesday, July 9, 2008.
Eugene J. Chiaramonte, Jr., President of Quest Minerals and Mining Corp., stated, "I am ecstatic to announce that after a lengthy five month rehabilitation process, we have begun mining coal at our Pond Creek location. Despite a number of delays and setbacks experienced in bringing the property online into the coal production stage, we feel that production could not have come at a better time given the recent surge in global coal prices."
According to GlobalCoal.com, the weekly index for power-station coal priced at the port in New South Wales (Australia) gained $22.69 to $194.79 per metric ton in the week ended July 4 for a record 6th week of increases.
The Pond Creek location is expected to be in full production mode within the next few weeks. Management aspires to then shift strategic focus towards bringing its Cedar Grove mine online.
Everett Hampton, President of Whitestar Mining, LLC stated, "I am pleased to announce that coal is now being mined at our Pond Creek location. Once full production is achieved, we anticipate to mine approximately 1,500 - 2,000 raw tons of coal per day. In addition, we expect very similar output from our Cedar Grove property once it is brought online."
About Quest Minerals & Mining
Quest Minerals & Mining Corp., or Quest, acquires and operates energy and mineral related properties in the southeastern part of the United States. Quest focuses its efforts on properties that produce quality compliance blend coal. For more information on Quest Minerals & Mining Corp., please visit our website at www.questmining.net.
Forward-Looking Statements
This document contains discussion of items that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Quest believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ from expectations include, but are not limited to, lack of revenue producing operations, lack of working capital, debt obligations, judgments and lien claims against Quest and certain of its assets, difficulties in refinancing short term debt, difficulties identifying and acquiring complementary businesses, fluctuations in coal, oil & gas, and other energy prices, general economic conditions in markets in which Quest does business, extensive environmental and workplace regulation by federal and state agencies, other general risks related to its common stock, and other uncertainties and business issues that are detailed in its filings with the Securities and Exchange Commission.