Coal Junior Looks to Consolidate Smaller Appalachian Mines

Mining Weekly reported that Thelon Capital (TSXV:THC) is interested in consolidating Appalachian coal mines to increase profitability.

As quoted in the market news:

Vancouver-based Thelon in February agreed to buy a privately owned coal miner for $35-million, plus a further $7-million for the targets bonds. Walsh said the company hoped to wrap the deal up next month. With the acquisition closed, Thelon aims to lift production at the mines it bought from 55 000 t/month currently to 75 000 t/month in the first quarter of 2012, and up to 85 000 t/month by the third quarter of next year.

Click here to read the full Mining Weekly report.