Australia’s Paringa Resources Ltd. now has steam coal commitments for more than 5.4 million tons from its new Poplar Grove underground mine in McLean County, Kentucky, after signing an agreement in early October with Ohio Valley Electric Corp. (OVEC), whose Indiana-Kentucky Electric Corp. subsidiary operates the 1,303-megawatt Clifty Creek power plant near Madison, Indiana, and 1,086-megawatt Kyger Creek power plant near Cheshire, Ohio. The 650,000-ton contract with OVEC is set to run from 2019 to 2020. Paringa announced the new deal to its shareholders in Australia, with Todd Hannigan, the company’s interim CEO, saying Paringa now has coal supply agreements with “two high-quality customers, providing an excellent platform to expand our sales base when we shortly commence production.”
Read the Whole Article in our Digital Edition