Exporter to ship Colorado coal from Corpus Christi

Exporter to ship Colorado coal from Corpus Christi    The Texas port of Corpus Christi on Tuesday approved a long-term lease of about 18 acres to New Elk Coal Co., a subsidiary of Toronto-based Cline Mining.
   The New Elk mine, located in Trinidad, Colo., has more than 300 million tons of metallurgical coal (met coal) in reserves. The Corpus Christi property is next to the ship channel and proximate to the bulk coal ship-loader.
   Met coal is a primary ingredient in 70 percent of the world's integrated mill steel production. It's in high demand worldwide and New Elk's primary markets will be Europe, Brazil and South Korea.
   Production of metallurgical coal from New Elk's Southern Colorado mine started in December and eventually the mine will be capable of producing 3 million tons of met coal per year.
   'Port Corpus Christi is strategically placed for the export of coal worldwide, including Europe and Brazil on the Atlantic side, and Asia through the Panama Canal, and it is capable of accommodating seagoing vessels carrying up to 70,000 tons of coal,' said Ken Bates, president and chief executive officer of Cline Mine Corp., in a statement. 'At the same time, the port delivers access to overland transportation with on-site and direct connections to three Class I railroads and uncongested interstate and state highways.'
   New Elk plans to ship about 1 million tons through the port in 2011, 2.5 million tons in 2012, and 3 million tons by 2013.