In its third quarter earnings statement, the company reported a net loss of $663,950. At the time, the company had sold 286,000 tons for the quarter and National Coal CEO Daniel A. Roling expected the company to show improvement, despite a number of economic challenges. “As we look forward to the future we are mindful that even though our anticipated tons to be sold are less than originally contracted, we have not seen any further deterioration since mid-summer,” Roling said. “We continue to see opportunities for investing in our Tennessee operations and are planning to be well positioned to benefit when the market improves.”
Headquartered in Knoxville, Tenn., National Coal controls more than 34 million tons of recoverable reserves and owns the mineral rights to 65,000 acres of land. The company operates two underground mines; two surface mines; and one highwall mine. On the processing and handling side, it owns and operates two prep plants, a unit train loading facility, one 24-hour coal load-out facility, a short line railroad, and one idled load-out facility. Altogether, National Coal employs about 325 people. The company sells about 1 million tons of steam coal to electric utilities and industrial companies in the Southeastern United States.