Met coal prices show upward tilt as consolidation picks up speed
Dec 18, 2007 | 02:32 PM
| Maria Guzzo
The metallurgical coal industry is apparently the place to be, with prices seemingly poised to head higher and mining companies expanding and acquiring interests in the sector.
Houston-based Natural Resource Partners LP, for example, said it will pay $27.2 million for about 17.5 million tons of high-quality low-volatility metallurgical coal reserves in Wyoming and McDowell counties in West Virginia. Natural Resource Partners said the purchase will generate coal royalty revenue of about $750,000 in the fourth quarter of this year.
"Recent events in the coking coal and coke sub-sector of the steel industry are clearly indicating where steel companies see these prices going—higher," Nicholas J. Sowar, a partner at Deloitte & Touche USA LLP, Cincinnati, said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.