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Paringa signs third coal sales agreement

Published by
World Coal,

Paringa Resources has signed a sales agreement with Big Rivers Electric Corporation (BREC) for coal sales from its Poplar Grove Mine, totaling up to 1 400 000 t of coal from 2019 to 2023. The sales agreement with BREC takes Paringa’s total five year contracted sales position to 6 800 000 t, including existing sales agreements with LG&E and KU and OVEC-IKEC.

The Poplar Grove Mine’s direct barge access to the Green and Ohio River systems provides a significant transportation cost advantage over many other coal operations in the region, with BREC’s R.D. Green and D.B. Wilson plants located in very close proximity to Paringa on the Green River.

Under the coal sales agreement, Paringa is contracted to deliver a minimum of 1 280 000 t and a maximum of 1 400 000 t of 11 250 BTU/lb product from its Poplar Grove Mine over a five year period at annual fixed pricing and on a mutually agreeable delivery schedule. Pricing terms are consistent with Paringa’s existing sales contract with LG&E and KU.

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