Lighthouse Resources is an owner and operator of two thermal coal mines in and around the Powder River Basin which stretches across southeast Montana and much of Wyoming. Currently the mines produce approximately 5.8 million metric tons per annum for the US domestic market (4.4 million tons per annum to Lighthouse’s account) and the Company is currently working towards expanding production and exporting coal to the international market.
The mines include the wholly-owned Decker mine in Montana and the 50/50 joint venture Black Butte mine in Wyoming with Anadarko Petroleum Corporation where Lighthouse is the operator. The Powder River Basin is known for producing some of the highest quality and lowest cost coal in the U.S. and the region currently supplies approximately 40 percent of coal consumed in the US.
Lighthouse Resources is focused on the coal export market and it is developing two port projects in the Northwestern U.S. The Company holds a 62% interest in the Millennium Bulk Terminals-Longview port facility located near the mouth of the Columbia River at Longview Washington. This industrial site includes an active dock and was used previously for aluminum smelting. The site is currently being permitted for coal handling. Lighthouse also holds a 100% interest in the development stage Morrow Pacific port located in Oregon on the Columbia River. This port is in the permitting stage.
Lighthouse Resources was previously known as Ambre Energy North America before the company announced in April 2015 that it would change its name to reflect the company’s core business strategy to focus on resource management and infrastructure projects. Resource Capital Funds through RCF V initially financed what was then Ambre Energy North America’s purchase of the Decker and Black Butte mines in 2011.
Since its original investment in 2011, RCF has made a number of additional investments in the Company. In late 2014, RCF purchased the North American assets of Ambre from its Australian Parent and it now holds a 92% interest in these assets with 8% being held by the shareholders of the Australian entity. As part of the acquisition, RCF retained the North American management team which is based in Salt Lake City, Utah. The purpose of the acquisition was to have a core management team focused on developing its port facilities and the coal mining operations.