Beacon Energy Corporation, a wholly-owned subsidiary of Beacon Redevelopment Industrial Corporation, has announced that it has entered negotiations to acquire a 950 acre track of property with coal mining rights/reserves in Pennsylvania.
The company says that it is confident that current negotiations will result in the successful execution of a purchase agreement immediately with a closing to take place before the end of November.
Pennsylvania is the sixth largest coal producer (29 btpa) in the USA, following Montana, Illinois, Wyoming, West Virginia and Kentucky. Two kinds of coal are mined in Pennsylvania - anthracite and bituminous.
According to the United States Geological Survey, the USA has 1.7 trillion tons of identified coal resources -- coal for which geological evidence and engineering studies provide reliable information about location, rank, quality, and quantity....
