Monday, 10 Oct 2011
The Canadian Press reported that Xstrata Coal has agreed to pay CAD 40 million to Cline Mining Corp to acquire 100% of a metallurgical coal deposit within the Lossan property in north eastern British Columbia.
The deposit has an estimated 240 million tonnes of metallurgical coal. The Lossan deposit covers about 3,800 hectares in the Peace River coalfield.
The deal is expected to close October 12.
Mr Ken Bates president and CEO said in a statement “The sale of the Lossan metallurgical deposit provides Cline Mining with immediately available funds to ensure efficient ramp up and expansion of its New Elk metallurgical coal mine. It also provides the ability to avail itself of other strategic opportunities.”
(Sourced from The Canadian Press)
Showing posts with label Cline Mining Corp. Show all posts
Showing posts with label Cline Mining Corp. Show all posts
Monday, October 10, 2011
Friday, August 19, 2011
Cline Mining Corp announces first commercial coal shipment from New Elk Coal Co
Friday, 19 Aug 2011
Cline Mining Corporation has announced that its first commercial sale of metallurgical grade coking coal was shipped on August 9th 2011 by Cline's wholly owned subsidiary New Elk Coal Company LLC from its coal mine located near the town of Trinidad in southern Colorado, USA.
The first coal shipment was made into rail cars from the company's newly constructed bulk rail load out facility at Jansen Yard near Trinidad. The coal was from first mine production and meets the full specification grade of New Elk's high quality metallurgical grade coal for steelmaking purposes. The New Elk metallurgical coal is a high volatile, high fluidity, high FSI and low sulphur product.
Ongoing continuing coal deliveries and shipments are scheduled according to the company's production schedule going forward. Cline is continuing to mine metallurgical coal from its New Elk Coal Mine, which is being placed in stockpiles on the mine surface. The coal preparation plant is treating the raw coal produced from the mine and achieving the high specification standards for New Elk met coal. An active coal marketing program is in full effect to establish and settle long term customer relationships. Bulk samples of the product coal are being produced and distributed to the major national and international steel industry participants.
New Elk production of metallurgical steel making coal slated for world markets is anticipated to ramp up to a production rate of 3.0 million tons annually by the first quarter of 2012, as described and detailed in the National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report New Elk Mine Project. Las Animas County, Colorado USA prepared for New Elk Coal Company LLC, subsidiary of Cline Mining Corporation" dated May 27th 2011 prepared by Mr Leo Gilbride and Mr Timothy A Ross of Agapito Associates Inc.
Cline Mining Corporation has announced that its first commercial sale of metallurgical grade coking coal was shipped on August 9th 2011 by Cline's wholly owned subsidiary New Elk Coal Company LLC from its coal mine located near the town of Trinidad in southern Colorado, USA.
The first coal shipment was made into rail cars from the company's newly constructed bulk rail load out facility at Jansen Yard near Trinidad. The coal was from first mine production and meets the full specification grade of New Elk's high quality metallurgical grade coal for steelmaking purposes. The New Elk metallurgical coal is a high volatile, high fluidity, high FSI and low sulphur product.
Ongoing continuing coal deliveries and shipments are scheduled according to the company's production schedule going forward. Cline is continuing to mine metallurgical coal from its New Elk Coal Mine, which is being placed in stockpiles on the mine surface. The coal preparation plant is treating the raw coal produced from the mine and achieving the high specification standards for New Elk met coal. An active coal marketing program is in full effect to establish and settle long term customer relationships. Bulk samples of the product coal are being produced and distributed to the major national and international steel industry participants.
New Elk production of metallurgical steel making coal slated for world markets is anticipated to ramp up to a production rate of 3.0 million tons annually by the first quarter of 2012, as described and detailed in the National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report New Elk Mine Project. Las Animas County, Colorado USA prepared for New Elk Coal Company LLC, subsidiary of Cline Mining Corporation" dated May 27th 2011 prepared by Mr Leo Gilbride and Mr Timothy A Ross of Agapito Associates Inc.
Wednesday, February 9, 2011
New Elk Coal Company leases coke storage area at Texas port
Wednesday, 09 February 2011
The New Elk Coal Company, a subsidiary of Toronto, Ontario-based Cline Mining Corporation, entered into a long term agreement with the Port of Corpus Christi Authority of Texas Tuesday that will allow New Elk to lease 18 acres of land proximate to the bulk coal shiploader for five years that will serve as a coal storage area for its metallurgical coal from its Colorado coal mine. The land will provide the company with immediate access to the world seaborne coal markets.
Elk Coal also has the option to extend the lease for five additional periods of five year.
Tags: coking coal , raw mat , USA , Canada , North America , distribution , mining , freight
sourced:steelorbis
The New Elk Coal Company, a subsidiary of Toronto, Ontario-based Cline Mining Corporation, entered into a long term agreement with the Port of Corpus Christi Authority of Texas Tuesday that will allow New Elk to lease 18 acres of land proximate to the bulk coal shiploader for five years that will serve as a coal storage area for its metallurgical coal from its Colorado coal mine. The land will provide the company with immediate access to the world seaborne coal markets.
Elk Coal also has the option to extend the lease for five additional periods of five year.
Tags: coking coal , raw mat , USA , Canada , North America , distribution , mining , freight
sourced:steelorbis
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