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CONSOL Energy Sells High-Vol Coking Coal to China
- Created on Monday, 01 March 2010 16:00
The leading U.S. underground coal producer, CONSOL Energy, has concluded the sale of five more vessels of high-vol coking coal from its Bailey and Blacksville mines destined for Asia. The sales were made by Xcoal, and are the result of the Asian Marketing Initiative announced last month by CONSOL. The sales for these five vessels total approximately 410,000 short tons. The cargoes are destined for integrated steel mills located in the Hebei and Shangdong provinces of China.
“CONSOL Energy established its arrangement with Xcoal just in time to meet the strong demand for high-vol coking coal in China,” said Brett Harvey, president and CEO, CONSOL Energy. “When counting the earlier sale we announced two weeks ago of 82,000 short tons, we have now sold nearly a 500,000 tons of Northern Appalachian coal to Asia in one month, and we’ve sold it at a significant premium to our domestic thermal market. CONSOL Energy, with our 100%-owned Baltimore Terminal, is in a unique position to sell our Northern App coal into the Atlantic Basin, Asia, or the domestic market.”