National Coal Corp. APPOINTS senior vice president AT national coal of alabama
CLoses New Sales COntract INCreasing its AVERAGE sale price and tons committed
Knoxville, Tenn. � (January 28, 2009) � National Coal Corp. (Nasdaq: NCOC), a Central and Southern Appalachian coal producer, is pleased to announce the appointment of Scott A. Deppe to the newly created position of Senior Vice President at National Coal of Alabama, effective January 26, 2009.
The Company also signed a new three-year coal supply agreement for approximately 560,000 tons at $95 a ton; deliveries begin during the second quarter. The contract will have a significant impact on both the Company�s average selling price and its committed tons through 2011. Tons committed for 2009 increased from 2.0 million tons (MT) to 2.2MT with an increase in the average selling price from $70.40/t to $73.94/t; tons committed for 2010 increased from 0.7MT to 0.9MT with an increase in the average selling price from $77.35/t to $81.03/t; and for 2011 we have now committed about 0.2MT at $95.00/t.
�The new contract reflects our ongoing commitment to closing new, long-term sales agreements. Part of our plan has always been securing such agreements at a higher price per ton, and this is no exception,� said Daniel Roling, President and CEO of National Coal Corp. �We are also glad to welcome Scott to our team as his experience will undoubtedly benefit our operations.�
Based in Birmingham, Ala., and reporting directly to National Coal COO, William Snodgrass, Deppe will be responsible for all areas of production in National Coal�s Alabama operations including engineering, land, administration, and business development.
Prior to this position at National Coal, Deppe served as Vice President, Chief Operating Officer and Director at Clearwater Natural Resources, LLC based in Leburn, KY. At Clearwater, he served on the Board of Directors and was involved in many strategic acquisitions including the 2006 purchase of Knott Floyd Land Company in Eastern Kentucky, a move which increased production by 1.5 million tons per year. Following the acquisition, and at the time of his departure, the total combined surface and underground production was approximately 4.5 million tons per year. As COO he supervised operations consisting of more than 400 employees.
In 2004, before his service at Clearwater, he served as Vice President of Colombian Operations at Drummond Company, LTD. In Colombia, South America, and from 1996 to 2004, he held the position of Vice President and General Manager at Triton Coal Company LLC in Gillette, WY. Prior to 1996, he held positions of increasing authority at the Dolet Hills Mining Venture in Mansfield, LA., Costain Coal Company and King Coal Company in Alabama. He began his career in the Illinois coal basin in 1973 with Arch Mineral Corporation.
National Coal of Alabama, with more than 110 employees, is a large part of our operations,� explains Roling. �We are fortunate to have an experienced mining professional like Scott, who has experience in all areas of mining employment, to join our team at such a crucial growth period for our Alabama operations.�
About National Coal Corp.
Headquartered in Knoxville, Tenn., National Coal Corp., through its wholly-owned subsidiary, National Coal Corporation, is engaged in coal mining in East Tennessee, and through its wholly-owned subsidiary, National Coal of Alabama, is engaged in coal mining in Alabama. Currently, National Coal employs about 350 people. National Coal sells steam coal to electric utilities and industrial companies in the Southeastern United States. For more information and to sign-up for instant news alerts visit https://www.nationalcoal.com.