Its the metallurgical coal that is important. China cut down on coal mines within China which spurred the significant metallurgical coal demand as China buys 80% of it. India and China need metallurgical coal for the steel manufacturing business.
Thermal coal is not that valuable and most of the United States coal Reserves consists of thermal coal. Also most of the metallurgical coal is shipped from America to China or India.
As you noticed NEWC should be able to lock in a relatively high priced contract for their mining operations. This article below shows that it takes 100 tons of this special coal to make 180 tons of steel.
Article discussing the rarest coal *less than 1% of coal reserves around the world and NEWC has 70% metallurgical coal out of the 17 million tons to sell on the open market). Plus they found a second vein today so it could be double the reserves once official proven.
Thermal coal is more stable in prices and is very abundant around the world. NEWC is a metallurgical coal mine not thermal coal mine. Its a big difference in the end product.
NEWC will be fine as they can operate with less cost than in America and have higher net profits. They have some of the rarest coal in the world top 1% which is why they have the interest from Asian conglomerates.
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