INTERNATIONAL COAL NEWS

Quest strikes amended deal

KENTUCKY producer Quest Minerals and Mining said Thursday it had accepted a higher strike price f...

Donna Schmidt

The company’s wholly owned subsidiary, Gwenco, gave the deal a verbal approval that will amend that order for up to $US8 million through the end of this December.

“We are very excited about this new commitment as the company stands to realise an additional 10 percent in revenues, and we fully anticipate being able to fulfil the entire order during the course of 2008,” said Quest president Eugene Chiaramonte Jr.

Earlier this month, the producer announced it had commenced production from its rehabilitated Pond Creek complex, from which it said it would fulfil its contract with L&K. Just days ago, it added a dedicated maintenance shift in hopes of realising the most efficient production.

Quest has now turned its attention to bringing online another one of its mines, Cedar Grove, from which it hopes to cut coal in the near future.

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