PERTH (miningweekly.com) – Coal developer Paringa Resources has signed a sales agreement with utility Big River Electric Corporation (BREC) for up to 1.4-million tonnes of coal between 2019 and 2023 from its Poplar Grove mine, in Kentucky.
The sales agreement with BREC took Paringa’s total five-year contracted sales position to 6.8-million tonnes.
“We are delighted to enter into a coal sales agreement with a high quality, locally owned organisation such as BREC, complementing our existing coal sales agreements with LG&E and KU and OVEC-IKEC,” said Paringa CEO Egan Antill.
“We have expanded our contracted position with three high quality customers to 6.8-million tonnes, providing clear revenue visibility for a significant portion of our production over the next five years to a diversified customer base.”
The 2.8-million-tonne-a-year Poplar Grove thermal coal mine forms part of Paringa’s 40 000-acre Buck Creek complex, which also contains the 3.8-million-tonne-a-year Cypress mine, where construction is set to begin in 2019.