National Coal Corporation (NASDAQ: NCOC) began operations in 2003, engaging in the mining, processing, and selling of bituminous steam coal from mines located in East Tennessee and Northern Alabama. Founded by a former analyst from Merrill Lynch, they have focused on consistently delivering high quality bituminous steam coal to their customers while building a foundation based on increased productivity, superior land reclamation, strategic partnerships, and a commitment to a strong safety policy. The company sells most of their production to electric utility customers, with the largest ones being South Carolina Public Service Authority, Georgia Power, and Duke Power.
National Coal is involved in the reclamation of land, which is carefully planned and included as a part of the entire mining process from beginning to end. Environmental experts, residents, state and federal officials, along with other interested parties, work together to determine the most desirable use of the land. Utilizing new technology and enhanced scientific methods, reclamation has become a much more effective process and results in a more environmentally sensitive result. Additionally, National Coal is funding research to find plants and shrubs that are adapted to the areas being mined, ultimately ensuring that the area returns to its former state quickly and successfully.
The company owns the coal mineral rights to approximately 65,000 acres of land and leases rights to an additional 42,000 acres. Their active mining complexes include two underground mines, five surface mines, and two highwall mines, four prep plants, and four train facilities. Over the years the company’s production has grown greatly, up to almost 1.5 million tons.
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