PALM BEACH, Florida, January 5, 2017 /PRNewswire/ --
Industry professionals continue to forecast a strong showing for coal in 2017 after 2016's significant success. Opportunities for metallurgical coal are riding the wave of momentum from last year as demand continues to skyrocket & significant orders are fulfilled. Coal companies taking advantage of the latest sector momentum include New Colombia Resources, Inc. (OTC: NEWC), CONSOL Energy Inc. (NYSE: CNX), BHP Billiton Limited (NYSE: BHP), Teck Resources Limited (NYSE: TCK) and Peabody Energy Corporation (OTC: BTUUQ).
New Colombia Resources, Inc. (OTC: NEWC), a Colombian company listed in the U.S. with premium metallurgical coal properties and medical marijuana operations, is pleased to announce they have signed a US$ 90 Million purchase agreement for metallurgical coal with American Steel Industries, LLC (ASI) of Philadelphia, PA, a joint venture partner with a Chinese Government owned Multi-Billion Dollar Commodities and Steel Trading Company. ASI has been exporting steel from China for the past 12 years and is one of its largest steel exporters, for more information about ASI, visit http://www.asi-steel.com
Read this and more news for NEWC at: http://marketnewsupdates.com/news/newc.html
Deliveries loaded at the port in Colombia for shipment to South China in 2017 will be as follows:
• April- 60,000 tonnes
• May- 40,000 tonnes
• June- 40,000 tonnes
• July-December- 60,000/month
This contract will be filled by New Colombia's joint venture being formed with MSG Mining Corp. The joint venture has sourced the coal to make timely deliveries per the agreement. Some of the coal will be supplied by the joint venture's Mina San Gregorio in Cucuta, Colombia with the remainder being sourced by third party producers in the area. The coal will be stored at the joint venture's coal yard in Cucuta and shipped to a port on the Caribbean coast for shipment to South China. Last year China placed restriction on coal output and yesterday announced additional mine closures.
In other NEWC Developments of note, New Colombia also announced this week they have reserved a spot in the USA Today's 2017 Special Edition Colorado Rockies Preview to advertise Sannabis' SANNAXHOL Pain Cream topical product made of cannabis sativa flower and other all natural ingredients native to Colombia. This cream has been tested by a licensed medical marijuana testing facility in the U.S. and shown to have minimal traces of THC, which can be imported and sold in the U.S.
In other Coal mining stock performances and developments:
CONSOL Energy Inc. (NYSE: CNX) closed up on Wednesday at $18.34 trading over 5 Million shares by the market close. CONSOL Energy will issue its fourth quarter earnings release at 6:45 a.m. Eastern Time on Tuesday, January 31. This will be followed by a conference call at 10:00 a.m. Eastern Time. A live webcast will be available on the 'Investor Relations' page of the company's website, http://www.consolenergy.com. Also, earnings call slides will be available at 6:45 a.m. Eastern Time on Tuesday, January 31, on the 'Investor Relations' page of the company's website.
BHP Billiton Limited (NYSE: BHP) closed up on Wednesday at $37.17 trading over 3.7 Million shares by the market close. BHP Billiton Limited discovers, acquires, develops, and markets natural resources worldwide. It operates through four segments: Petroleum, Copper, Iron Ore, and Coal.
Teck Resources Limited (NYSE: TCK) closed up on Wednesday at $25.96 on over 5.5 Million shares traded by the market clsoe. Teck Resources recently provided an update to its coal guidance for the fourth quarter - 2016. In light of ongoing strong spot prices for steelmaking coal, Teck expects its average blended realized price for all of its steelmaking coal products in the fourth quarter of 2016 to be in the range of USD$200 to USD$205 per tonne.
Peabody Energy Corporation (OTC: BTUUQ) closed up on Wednesday at $5.29. Peabody Energy recently recognized U.S. coal-fueled power plants for top environmental performance with the 2016 Peabody Energy Clean Coal Awards. Honors were determined based on data available from the Environmental Protection Agency for the lowest sulfur dioxide (SO2) and nitrogen oxides (NOx) emissions rates in addition to the best efficiency (as measured by heat rate), which results in a lower carbon footprint. Starting this year, the company also presented awards to industry pioneers advancing modern, large-scale carbon capture, use and storage (CCUS) projects. Honoree selection for the new awards followed a comprehensive review process by an independent panel of CCUS subject matter experts.
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