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Purchase of Marrowbone mine falls through

Published by
World Coal,

NewLead Holdings, a provider of seaborne transportation services for dry bulk commodities, has not completed the expected purchase of the Marrowbone coal mine.

In a statement, the company said that the acquisition did not take place due to a number of factors including “a failure of the parties to reach acceptable definitive terms for such acquisition, the collapse of coal prices, as well as adverse coal market conditions especially with regard to the export and transportation of coal that continues today.

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