National Coal appoints Castle

TENNESSEE-based producer National Coal Corporation has chosen Michael Castle as its new senior vice-president and chief financial officer, replacing the exiting Mike Love.
National Coal appoints Castle National Coal appoints Castle National Coal appoints Castle National Coal appoints Castle National Coal appoints Castle

National Coal's Baldwin Preparation Plant, located in Devonia, TN.

Donna Schmidt

Castle’s appointment – based at National's Knoxville office – is effective from December 1. Love's seat on the company's board of directors will remain open "for the time being", according to NCC.

In addition to experience gained through his own professional practice, which assists companies seeking to obtain or sell mining and gas properties, Castle also served as the chief financial officer for Kentucky operator Quaker Coal.

President Daniel Roling said Castle's background will lend itself well to the company's needs.

“Michael is very knowledgeable about the coal industry, having been associated with it for a number of years,” said Roling.

“His past achievements speak volumes about his ability to add value and we look forward to his addition to our team."

NCC controls properties in Tennessee and Kentucky, as well as in Alabama under its wholly owned subsidiary, National Coal of Alabama.

The establishment of the Alabama division was announced in October after the company acquired Mann Steel. The renamed entity was taken on in a deal funded with debt financing of $US50 million and another $12 million in equity that was initially announced in late September.

National Coal is expected to have 2.6 million tons in sales for the year, equalling about $140 million.