INTERNATIONAL COAL NEWS

Royal Coal picks CFO

CANADIAN-based and Appalachian-focused producer Royal Coal has appointed Jeff Lowe as its chief f...

Donna Schmidt

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Lowe, the company says, brings to the company a diverse background that includes coal production experience as well as the treasury/corporate finance, corporate development and sophisticated financial and commodity risk management industries.

Chairman Tom Griffis said Lowe had joined the producer at a key time when it was seeking to expand coal production and operations.

Royal announced late last December it would take an 80% ownership stake in the River coal-loading terminal, just days after announcing it had secured eight coal properties in eastern Kentucky.

The deal, which includes the equipment to operate the facility on the Big Sandy River in the eastern Kentucky town of Catlettsburg, was made for $US8.25 million.

The company has the option to purchase the remaining 20% for the facility, which is in operation and has a capacity of 100,000 tons per month.

Royal Coal, headquartered in Toronto with a regional office in Hazard, Kentucky, has a focus on the central Appalachian region, including parts of West Virginia, Virginia, Kentucky, Ohio, and Tennessee.

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