The mine site is expected to produce an average of 20,000 tons per month for approximately seven to ten years.
Under the terms of the lease agreement, Thelon Capital will receive the greater of $7 per ton royalty or approx. 9% of gross sales price of the Coal.
Production is expected to begin next year.
The Jellico Coal Project located in the Appalachian Coal district in Claiborne County of Tennessee has a historic resource of over 12 million tons of thermal and metallurgical coals.
