The company will buy one million tons of coal from the Landree mine in Green County, Indiana.
The agreement also provides Indianapolis Power & Light with an option to purchase an additional 180,000 tons in 2013 and 2014.
Lily Group has been formed to hold, explore, develop, operate and manage natural resource properties, with an initial focus on coal exploration.
VHGI Holdings has recently entered into a definitive stock purchase agreement with the Lily Group.
VHGI is a diverse company with assets and interests focusing on opportunities within the energy and mining markets, precious metals and healthcare technology industry.
