Metallurgical coal assets set to define Universal Coal in 2012
After its successful IPO based on near-term thermal coal production assets in 2010, Universal Coal‘s metallurgical coal assets will be the main driver for investor interest in 2012.
After its successful IPO based on near-term thermal coal production assets in 2010, Universal Coal‘s metallurgical coal assets will be the main driver for investor interest in 2012.
Arch Coal has acquired the South Hilight coal lease in the southern Powder River Basin (PRB) for US$ 300 million. The lease is contiguous with the company’s existing Black Thunder mines and contains high CV, low sulfur coals.
Peabody Energy will increase its production at the Wilpinjong and Millennium mines in Australia after expansions at both sites were completed. It is expected that the increased production will allow the company to supply an additional 3 – 5 million tpa to the Asian seaborne market.