Energy Stocks Trending Up with Met Coal Projects - New Colombia Resources, Arch Coal, Walter Energy, Alpha Natural, Cliffs
CORAL SPRINGS, Florida, October 3, 2013 /PRNewswire/ --
Thursday market news updates for active mining & energy companies with Metallurgical Coal projects: New Colombia Resources, Inc. (OTCQB: NEWC), Arch Coal, Inc. (NYSE: ACI), Walter Energy, Inc. (NYSE: WLT), Alpha Natural Resources, Inc. (NYSE: ANR) and Cliffs Natural Resources Inc. (NYSE: CLF).
New Colombia Resources, Inc. (OTCQB: NEWC) Headline: New Colombia Resources Inc. Purchases Greenfield in Colombia where their Metallurgical Coal Concession is Located. announces they have entered into an agreement to purchase a 50% interest in the San Jose and Santa Isabella farms in Guaduas, Colombia. The company will purchase the remaining interest once they determine it is necessary for their metallurgical coal project. The company will work with the seller to develop sustainable resources on the farms as they develop their underground coal operations. New Colombia's main purpose for purchasing these farms is to have full control of their coal operation without the need to pay royalties to farm owners. The farmland in the area has been increasing in value due to the construction of the Ruta del Sol, which connects Bogotá to Barranquilla..
To read the entire press release, please go to http://finance.yahoo.com/q/h?s=NEWC+Headlines
New Colombia's main purpose for purchasing these farms is to have full control of their coal operation without the need to pay royalties to farm owners. The farmland in the area has been increasing in value due to the construction of the Ruta del Sol, which connects Bogotá to Barranquilla.
Arch Coal, Inc. (NYSE: ACI) engages in the production and sale of steam and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2012, it operated or contracted out the operation of 32 mines, and owned or controlled approximately 5.5 billion tons of proven and probable recoverable reserves. ACI closed up 1.49% at $4.08 on 11.9 Million shares traded by the market close Wednesday (10/2/13).
Walter Energy, Inc. (NYSE: WLT) is a leading, publicly traded "pure-play" metallurgical coal producer for the global steel industry with strategic access to high-growth steel markets in Asia, South America and Europe. The company also produces thermal coal, anthracite, metallurgical coke and coal bed methane gas. Walter Energy employs approximately 4,100 employees with operations in the United States, Canada and United Kingdom. WLT closed up 3.21% at $14.46 on 6.9 Million shares traded by the market close Wednesday (10/2/13).
Alpha Natural Resources, Inc. (NYSE: ANR), a leading U.S. coal producer, announced Wednesday at the market close that it has amended its secured credit facility. The credit agreement amendment eliminates the interest coverage ratio through the end of 2014 and relaxes the interest coverage ratio from 2.00 times to 1.25 times during 2015 and from 2.00 to 1.50 times during the first two quarters of 2016. With mining operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming, Alpha supplies metallurgical coal to the steel industry and thermal coal to generate power to customers on five continents.
Cliffs Natural Resources Inc. (NYSE: CLF), a mining and natural resources company, engages in the production of iron ore pellets, fines and lump ore, and metallurgical coal. It operates five iron ore mines located in Michigan and Minnesota; five metallurgical coal mines located in West Virginia and Alabama; and one thermal coal mine located in West Virginia. CLF closed up 3.08% at $21.45 on 6.4 Million shares traded by the market close on Wednesday (10/2/13).
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