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U.S.
SUGAR CORPORATION SIGNS LEASE AGREEMENT
WITH STEWART MINING INDUSTRIES, INC.
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CLEWISTON,
FL.— U.S. Sugar Corporation has signed
a lease agreement with Stewart Mining Industries, Inc., of Fort Pierce
to mine
aggregate
rock
on some
of the company’s land in western Palm Beach County.
The long-term lease agreement includes 4000 acres of land near 20-mile
Bend and west of Palm Beach Aggregates. The initial plan calls for mining
up to 100 acres a year. The excavated property will have long-term potential
for water storage. To minimize the impact on local highways, the majority
of the aggregate will be transported by rail.
Stewart Mining currently operates two aggregate mines—one in Ft.
Pierce and one in Jasper, Florida. Aggregate rock materials are primarily
used throughout Florida for road building and other residential and commercial
construction projects.
Not all of the property leased will be mined initially, with market demand
determining the mining schedule. As part of the agreement, U.S. Sugar
reserves the right to continue farming leased land not currently involved
in mining operations.
Florida Department of Environmental Protection and U.S. Army Corps of
Engineers officials toured the property and determined that no wetlands
would be affected by the mining operations.
“This mining lease is a part of U.S. Sugar’s effort to maximize
its land assets during a business and global trade atmosphere that has
forced us to reduce the acreage devoted to sugar cane,” said Robert
Coker, Senior Vice President, Public Affairs.
“We will continue to look for opportunities to find the highest
and best use of land that will not be farmed on a short or long-term
basis,” Coker
said.
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