Port allocation is expandable to an annual export of 3.0 million tons with capacity expansion at New Horizon and TDIP.
The agreement represents a significant milestone for the company, expanding its export market outlets for coal produced from its Kinney Coal project located near Salt Lake City in Utah.
New Horizon can now access major seaborne thermal coal markets in Europe, Latin America and Asia.
The agreement also allows the company to secure allocation for future proposed projects and eliminate risks to the development of the Kinney Coal project.
TDIP is a fully permitted bulk coal handling terminal being developed by Pinto Realty Partners.
Pinto Realty Partners MD Ernie Cockrell said, "We believe that their high quality thermal coal will be in high demand on the export market and also see it as an excellent blending product for other US coal exporters who will be exporting through our terminal on the Houston ship channel."
