Usibelli Coal Mine.

• Author: Orr, Vanessa
• Position: Company Profile

Top 49ers Allstars COMPANY PROFILE

2002 Top 49er Ranking: 33

Position Last Year: 35

2001 Revenue: $33.2 million

Number of Employees: 120

It's quite an accomplishment when a 50-year-old man, with a broken back, can start his own coal mining company using only a previously owned bulldozer and a logging truck. Even more amazing is that the company he started, Usibelli Coal Mine Inc., has grown from providing 10,000 tons of coal per year in 1943 to providing more than 1.5 million tons in 2001.

"My dad, who started the company, used to work for the old Healy River Coal Corp.," explained Joe Usibelli, board chairman and former chief operation officer of Usibelli Coal Mine Inc. "He broke his back in an underground mining accident, and in those days companies had quite an enlightened policy--they waited until you recovered enough to prove that you could work, and then they fired you so they had no continuing liability."

Because Emil Usibelli was such a good worker, he was given a contract to supply timber for an underground mine. "When World War II started, the government wanted a second source of coal, and my father got the contract," said Usibelli. "He got some leases, and he started mining, and eventually, he bought out what was left of the company that had fired him."

When Emil Usibelli died in a mining accident in 1964,Joe Usibelli, then 25, took over the business. He served as president until 1986, when his son, Joe Usibelli Jr., took his place. In August of 2002, Joe Usibelli retired from the company, although he still serves as the chairman of the board.

In 1971, the Usibellis purchased the Vitro Mine, and became the only operating coal mine in Alaska. "There were many others over the years, but we're the only surviving one," Usibelli explained. "It's a matter of demand, and the ability to produce enough tonnage. There's really not room for more than one coal mine in this market."

In 2001, the Usibelli Coal Mine saw revenues of $33.2 million with about half of their product staying in-state, and half shipped through the Port of Seward to South Korea. "We've gone through several stages of modernization during my time, but I'd say the biggest accomplishment was getting the Korean coal contract," said Usibelli. "We were approached by a gentleman in Korea who had a small shipping and importing company in that country and wanted us to ship there. At first we didn't think it could be done, but we eventually put it together, and at this point have...