NEW YORK Canadian coal producer Corsa Coal Corp. has
entered into a long-term sales arrangement to provide South
Korean steelmaker Hyundai Steel Co. Ltd. with low-volatility
The coal will be sourced from Toronto-based Corsa Coals
Wilson Creek Mine in Somerset County, Pa., the miner said April
The agreement follows successful test shipments of about 40,000
tons of low-volatility metallurgical coal to Hyundai
Steels operations in Korea.
Once again, this demonstrates the quality of the Wilson
Creek low-volatility coal we produce, and the importance of
this coal in the domestic and international markets,
chief executive officer Don Charter said.
Corsa signed a binding agreement in March that will give
Houston-based Quintana Energy Partners LP a controlling stake
in the company.
In addition to securing a 56%
stake in Corsa Coal for $40 million, Quintana will hold a
redeemable 25% interest in its wholly owned Wilson Creek