Steel, energy growth plan driving Massey-Essar Mineral coal venture
Nov 29, 2007 | 12:30 PM
| Maria Guzzo
Massey Energy Co., Richmond, Va., has entered into a joint-venture agreement with Essar Mineral Resources Ltd., a member of India's Essar Group, to develop coal opportunities.
Plans to boost steel production, among other things, prompted the deal. "Essar is looking to dramatically increase its steel production and energy generation in the coming years," Don L. Blankenship, Massey's chairman and chief executive officer, said. "Massey has some of the best metallurgical and steam coal reserves in North America and the expertise to develop modern, cost-effective coal....
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