KAL Energy Enters Into Amended Royalty Agreement

KAL Energy, Inc., a thermal coal explorer and developer, today announced that it has successfully amended the terms of its royalty agreement with Concord International. Under the terms of the new agreement, the Company will pay royalties as follows: 1. For all coal sales under $40 per metric ton the royalty is reduced from $0.40 per metric ton, indexed annually with inflation, to $0.20 per metric... 

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China’s power plants agree to pay more for coal

Coal producers and power plants agreed to lift coal prices this year by an average of 30 yuan per tonne, or around 10 percent, state media reported, striking a deal for the first time without government intervention. Shares in listed coal firms soared on Thursday on improved prospects for coal prices. China Shenhua Energy and Yanzhou Coal jumped about 5 percent. The two sides have in the past few...