North American Gem to snap up Appalachia Coal

IN A cash and share purchase, Canadian mineral miner North American Gem has been given the financial green light by federal officials to acquire Appalachia Coal Corporation.

Donna Schmidt

NAG will have a 100% interest in the British Columbia-based ACC and its 20,000 acres of coal leases in Preston County, West Virginia. In addition to a special deal for common shares, the new owner will submit a cash payment of $200,000 to ACC.

The 20,000 acres of West Virginia leases are in various stages of permitting, according to NAG officials.

“Several different coal seams run on ACC's properties including the well-known Kittanning seam currently being mined at Cleveland-Cliffs’ White Tail mine six miles from ACC's project,” said officials.

This week, NAG said, representative Charles Desjardins will visit West Virginia to meet with management for the project and devise plans to “aggressively” progress the project.

North American Gem, which also holds interests in molybdenum, gold, copper and other base metals projects in Canada, said that North American coal exploration was its primary goal.

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