Under the deal’s terms, the company will act as its sales agent to develop opportunities and sell Xinergy’s thermal and metallurgical coal production to the U.S. domestic and international markets.
The agreement, which is in effect until the end of 2015, has provisions for extensions into the future.
Xinergy President and CEO Bernie Mason said that the company is excited to make an agreement with one of the world’s largest coal traders.
“We have told our investors that the company had many levers to use to strengthen our position in the space, and we intend on capitalizing on them,” he said. “Today, we delivered on the second of such levers.”
Knoxville, Tennessee-based Xinergy has operations in West Virginia and Virginia.