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Paringa is positive of future on Illinois Basin coal

Published by
World Coal,

Paringa Resources has released a report highlighting it expectations of future demand growth for coal from the Illinois Basin in the US.

The company highlights the potential for strong future demand growth for Illinois Basin coal based on it remaining at the bottom of the delivered cost curve for eastern US coal-fired power plants. This will support continued coal basin switching away from coal from higher-cost basins.

“We continue to be highly encouraged by the market fundamentals supporting the growing Illinois Basin,” said David Gay, Paringa’s President and CEO in a statement.

Paringa is developing the Buck Creek No. 1 coal mine in the Illinois Basin in Kentucky to supply high-quality, low cost coal. It is currently in the final stages of executing a forward coal sales agreement with a major US utility.

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