Xinergy to Supply Coal to J.P Morgan Ventures

18 July 2011 (Last Updated July 18th, 2011 18:30)

Xinergy Corporation has signed a long-term coal supply agreement with J.P. Morgan Ventures Energy for the delivery of coal from Raven Crest/Brier Creek mines in West Virginia, US. Under the terms of the agreement, Xinergy will deliver 720,000tpa of coal from January 2012. The con

Xinergy Corporation has signed a long-term coal supply agreement with J.P. Morgan Ventures Energy for the delivery of coal from Raven Crest/Brier Creek mines in West Virginia, US.

Under the terms of the agreement, Xinergy will deliver 720,000tpa of coal from January 2012.

The contract, which will end in December 2014, is expected to generate $170m in revenue.

Xinergy's CRO Michael Castle said the agreement is consistent with the firm's plans to develop the Brier Creek underground reserves and significantly increase thermal production in West Virginia.