April 20, 2010
Source: America West Resources, Inc.
America West Resources, Inc. (AWSR) , a domestic compliant coal producer with mining operations in Central Utah, announced that it has entered into a Master Coal Purchase and Sale Agreement with a European electricity trader. The Agreement, valued at approximately $9.4 million, provides for America West to supply the new customer with compliant coal mined from its Horizon operations and delivered pursuant to a predetermined monthly shipping schedule set to begin this month and continuing until December 2013.
Dan Baker, Chief Executive Officer of America West, stated, "This new agreement helps to further expand and diversify America West's customer base while strengthening and enhancing our standing as an emerging supplier of low sulphur bituminous coal to the global energy markets - a key corporate objective for our Company in 2010 and beyond. Currently, we are seeing an increasing demand for our coal and strengthening prices compared to historical averages."