New Elk coal mine in Colorado starts production
PERTH (miningweekly.com) – First coal has been produced at the New Elk mine, in Colorado.
ASX-listed Allegiance Coal on Monday reported that while coal production had been pushed back by three weeks, owing to delays in obtaining operational plan approvals from Mine Safety and Health Administration, it meant that the mine could start production with the knowledge that its first coal sales had been agreed.
A small volume supply contract has been agreed for the initial Blue Seam production to a local domestic customer for early June delivery, which Allegiance said could lead to a small volume, fixed price, long-term supply contract.
The company’s marketing and sales agent has negotiated terms for four 70 000 t cargoes of Blue Seam coal to Asian steel mill customers for delivery between August and December this year.
Allegiance told shareholders that the marketing company had also received strong interest from global steel mills for the Blue Seam supply, with multiple requests for drum samples forthcoming.
Meanwhile, a second production unit at New Elk will be brought forward starting in August, which had previously been planned for November.
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