Bluefield Coal Show Starts September 13

The Bluefield Coal Show is scheduled for September 13-15 at the Brushfork Armory-Civic Center sponsored by the Greater Bluefield Chamber of Commerce. The three-day event will feature a number of new exhibitors as well as most of the 2015 exhibitors showcasing their latest products and services in the coal industry, according to General Chairman Charles A. Peters.

Hal Quinn, president and CEO of the National Mining Association, will be the keynote speaker at the media appreciation breakfast and officially open the show on Wednesday, September 13. Quinn will provide a message on the latest on energy — new technologies in making coal more efficient and cleaner.

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Work Finally Begins at Rosebud Mining’s Cresson Operation

More than a decade after Pennsylvania regulators issued a final permit for the mine, work finally is under way on Rosebud Mining’s long-delayed Cresson underground roof-and-pillar operation in Cambria County that is expected to produce both metallurgical and steam coal from the Upper Freeport coal seam for a variety of markets.

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AmCoal Receives Contract for LG&E, KUC

Murray Energy Corp.’s American Coal (AmCoal) subsidiary has received a contract to supply up to 3 million tons of steam coal to Louisville Gas & Electric Co. (LG&E) and Kentucky Utilities Co. (KUC) through 2019, although the exact origin of that coal remained uncertain in late spring.

Delbert Billiter, manager of fuels for Kentucky’s two largest electric utilities, told the Kentucky Public Service Commission in a filing that AmCoal did not supply any coal in 2016, the first year of the agreement, at the utilities’ request. As a result of negotiations, AmCoal is scheduled to supply 1 million tons to 1.5 million tons in both 2017 and 2018. Currently, no tons are scheduled for delivery in 2019.

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Decline in Coal Production in Kentucky May Be Over

While not exactly a surge, Kentucky’s slight increase in coal production during the first quarter of 2017 perhaps was a sign the prolonged output decline that saw the Bluegrass state slip to fifth nationally in 2016 — behind even Illinois and Pennsylvania, as well as Wyoming and West Virginia — finally may be over.

Kentucky produced a little more than 11.2 million tons in the first three months of this year, keeping it on course to turn out nearly 45 million tons in 2017. If so, that would beat the 42.7 million tons the state produced in 2016, which was down 61.4 million tons in 2015.

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Glencore Delivers Proposal to Buy Rio Tinto’s Coal & Allied Operations in Australia

Glencore has submitted a proposal to acquire Rio Tinto’s 100% interest in Coal & Allied Industries Ltd. (C&A) for $2.55 billion in cash plus a coal price-linked royalty. The cash is comprised $2.05 billion in cash payable on completion and $500 million in aggregate deferred cash payments, payable in annual installments of $100 million over five years following completion.

A subsidiary of Mitsubishi Corp. has a tagalong right to sell its 32.4% interest in the Hunter Valley Operations joint venture. Glencore has agreed to purchase Mitsubishi’s 32.4% interest in the joint venture and 28.898% interest in the Warkworth joint venture for $920 million cash conditional on completion of Glencore’s acquisition of C&A from Rio Tinto, with $520 million being payable on completion and $100 million payable on the first four anniversaries of completion. If a transaction is concluded, Glencore intends to mitigate its overall financial commitment via a sale/monetization of assets of no less than $1.5 billion, including exploring the option of selling up to 50% of its interest in the C&A mines.

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