Royal Coal Corp. (CVE:RDA), is a coal development company. It currently has three projects in the Central Appalachia region of Kentucky: Big Branch (Cheyenne), the Sid Mining, and the Laurel Fork (Coty) Mining Project.
Thelon Capital (CVE:THC) is an exploration and development company focused on the Appalachian mining district. Thelon’s goal is to capitalize on the global surging energy demand and construction infrastructure growth through supplying metallurgical, thermal and specialty coals. Its flagship property is the wholly owned Jellico Coal Project located in Tennessee, USA.
Walter Energy (NYSE: WLT),announced today that the company has settled a dispute with Turkish steelmaker Erdemir. The dispute was over 280,000 metric tons of premium coking coal that the steelmaker had contracted to purchase during the 2008-2009 contract year at $319 per metric ton.
Freewest Resources Canada Inc. (TSX VENTURE:FWR) today announced that the company has entered into an Arrangement Agreement with Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF). According to the agreement Cliffs will acquire all of the shares of Freewest in a Board-supported transaction with a total estimated value of C$150.6 million, or C$0.70 per Freewest share.
A 110 mw unit of Nalco’s captive power plant here was shut down yesterday due to a shortage of coal. The dip in power generation affected aluminium production, prompting company officials to discuss the coal supply issue with MCL authorities. For full story, click here
We are into the second half of the second month of 2009 and pressure on coal prices have not eased. While the long-term outlook in this sector remains strong, thanks to strong fundamentals, spot prices continue to be under pressure. The reasons are being cited as high utility coal inventories, lower demand for electricity and competition from natural gas.
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