Homeland Energy Finalizing Extension of Agreement Deadline for Appolo Mines and Diversified Energy

Homeland Energy Group Ltd. is finalizing an extension of the agreement deadline with the vendors of Appolo Mines and Diversified Energy of Middlesboro, Tennessee and Knoxville, Kentucky respectively as the current agreement expires today. Homeland Energy Group Ltd. is a coal producer with operations the Witbank area of South Africa. The company also has a large-scale development property in South... 

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Homeland Energy to Purchase US-Based Appolo Fuels and Diversified Energy for US$105-Million

Homeland Energy Group Ltd., Appolo Fuels and Diversified Energy are pleased to announce that they have finalised a binding agreement for Homeland Energy to purchase the operating assets of Appolo Fuels, Inc., owner and operator of the Appolo coal mine and Diversified Energy, Inc., the associated coal marketing firm, of Middlesboro, Kentucky and Knoxville, Tennessee, respectively. The total purchase... 

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Coal companies fight law to ban mountaintop strip mining

A proposal to ban most mountaintop removal mining and to toughen other environmental standards for the coal industry in Tennessee is running into stiff opposition from state coal producers. National Coal Corp. President Dan Roling told the state Senate Environment and Conservation Committee last week that passing the measure would have dire effects on the industry in the state. ”Prohibiting mining... 

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Environmental groups speak out against relaxing mining rule

Environmental groups across Appalachia spoke out at public hearings in four states on a Bush administration-backed proposal to relax restrictions preventing mining activity near waterways. The groups oppose exempting valley fills , in which rubble from mountaintop removal mining is dumped in nearby valleys , from the 20-year-old rule restricting mining activity near streams. “Enough is enough!”... 

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Alcoa Sends Letter to Alcan Board Outlining Commitments to Quebec; Will Meet Requirements of Agreement between Alcan and Quebec Government

Alcoa Inc. announced that it has reviewed Alcan’s continuity agreement with the Government of Quebec which identifies the requirements that Alcoa must meet regarding Alcan’s future operations in the Province in order to maintain certain of Alcan’s hydroelectric and water rights. In a letter to Alcan’s Board of Directors, Alcoa outlined the many ways in which its offer to acquire... 

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National Coal’s loss widens

Higher costs and a weak pricing environment resulted in widening fourth-quarter losses for National Coal Corp. The Knoxville-based company on Friday reported that net losses more than doubled in the quarter to $7.8 million, on revenues of $21.5 million. In the same period last year, the company had losses of $3.2 million on revenues of $20.2 million. In a news release, the company said the cost of... 

National Coal Corp. Signs Agreements to Sell Three Million Shares

National Coal Corp. announced that it has signed definitive subscription agreements to sell three million shares of its common stock at the February 28, 2007 closing consolidated bid price of $4.65 per share. Daniel Roling, President and CEO of National Coal, has agreed to purchase 200,000 shares, and two institutional investors have agreed to purchase the remaining 2.8 million shares. The proceeds... 

Impact of FPL’s ‘clean’ coal plant may foul future

An official for the Everglades and Dry Tortugas National Parks said Tuesday that Florida Power & Light Co. must address how its proposed “clean” coal plant in Glades County will affect the parks’ air quality before it moves ahead with the project. “You can’t impact a Class 1 airshed, and they have to address that,” said spokeswoman Linda Friar, referring to... 

National Coal Cancels Surface Mine Acquisition

National Coal Corp. said Monday that it has canceled plans to acquire an unidentified West Virginia surface mine because it and the seller could not agree on the assets’ value. National Coal, based in Knoxville, Tenn., had announced the deal in November. At the time, the company said it planned to buy the mine for about $60 million plus debt. “However, one condition, the inability of National... 

National Coal Cancels Surface Mine Acquisition

National Coal Corp. said Monday that it has canceled plans to acquire an unidentified West Virginia surface mine because it and the seller could not agree on the assets’ value. National Coal, based in Knoxville, Tenn., had announced the deal in November. At the time, the company said it planned to buy the mine for about $60 million plus debt. “However, one condition, the inability of National...