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88娱乐城
The long-term agreement provides New Elk 18 acres of land adjacent to the shipping channel and bulk coal ship-loader, giving the operation immediate access to the international seaborne export coal markets for the sale of its metallurgical coal.
The lease was effective February 8 and initially covers a five-year period. Cline Mining has the option to extend the lease for five additional periods of five years.
PCCAT鈥檚 facility has a throughput capacity of up to 2 million tons per annum, and additional storage is available at the port to accommodate future production.
鈥淭he Port of Corpus Christi is strategically placed for the export of coal worldwide, including Europe and Brazil on the Atlantic side, and Asia through the Panama Canal,鈥� the producer said, adding that its seagoing vessels could carry as much as 70,000 tons of coal.
Additionally, the port has overland transportation access via onsite and direct connections to three Class I railroads as well as uncongested highways.
New Elk recently commenced production in Las Animas County in southern Colorado. By the end of the year production is slated to reach a rate of 3Mtpa, with overall production this year anticipated to reach about 1Mt and to ramp up exponentially by the end of 2011.
88娱乐城 80% of the mine鈥檚 annual production is scheduled to be achieved in the second half of this year.
New Elk鈥檚 mineral resource estimate totals 315Mt of coal in-place (87.6Mt measured and 227.4Mt indicated), based on a November 2010 report by Agapito Associates.
In addition to Colorado, Cline has metallurgical coal property interests in British Columbia, Canada. It also has iron ore interests in Madagascar and owns the Cline Lake gold mine in Canada.
