Knoxville-based National Coal signs three new contracts

KNOXVILLE, Tenn (WVLT) National Coal Corporation announced today it has signed three new coal sales contracts.

With the addition of these commitments, National Coal says they have now sold 2,500,000 tons, or 96% of its estimated 2008 production.

Of the Company’s committed 2008 sales, approximately 1.1 million tons will come from National Coal of Alabama and approximately 1.4 million tons from National Coal Corporation’s properties in Kentucky and Tennessee, according to a company news release issued today.

The new contracts vary in length from one year to three years.

“The signing of these additional sales contracts puts the Company in a more secure position going forward," President and CEO Daniel Roling. "We have been anticipating higher levels of production for 2008 versus 2007, and these additional sales contracts will support those higher levels of production.”