LC&N Sells Coal Properties

Lehigh Coal & Navigation Co., a fixture in the anthracite region for many years, has sold its properties in Carbon and Schuylkill counties for $11 million to a Montgomery County real estate corporation.

However, mining operations should soon resume on those properties, the lawyer for the buyer said Friday.

BET Lehigh Real Estate LLC, Horsham, bought the properties, which consist of more than 8,000 acres of coal land, according to the 34-page deed filed Friday in Pottsville.

Full article is available here: http://standardspeaker.com/news/lc-n-sells-properties-for-11m-1.833707

Things are not always what they seem. The sale was a little too quick to happen after the shutdown.

hophead wrote:Things are not always what they seem. The sale was a little too quick to happen after the shutdown.

Not really if the deal was being worked on way before the shut down happend . Remember the owner of LC& N was the owner of Reading Anthracite at one time not so long ago.

http://standardspeaker.com/news/surface ... -1.1154419

It seems that the mining permit from LC&N has been transferred and mining operations are supposed to resume. One thing the article doesn't mention is retail sales...only export sales. While I think it is good that something is happening with the property, I think it will be a shame if they chose not to sell anthracite locally.

Yep, it's a shame when money becomes more important then your own Country & it's citizens--if in fact that is what is going to happen Do you know who bought the mine??

Read the article link from Mark Viii. We can only hope it stays here, however it says: The market is strong for coal due to recent economic upswings in China and India, according to Topkis. They send us crap, we send them an excellent product.....
to make steel and energy..........and they send us more crap. Thanks for nothing!

freetown fred wrote:Yep, it's a shame when money becomes more important then your own Country & it's citizens--if in fact that is what is going to happen Do you know who bought the mine??

Actually, our supply of anthracite certainly seems sufficient for the near future. One company's plan to ship overseas allows us "at least" to
engage in international "trade"! When was the last time the US exported a television set?
As the price of coal goes up (however much that might be) more mines will find it profitable to reopen and moderate the increase in price, with increased supply.More mines open means more employment...
If LC&N hasn't been producing for a while, how much did we miss them?

RMA--I think WN's post covers that international trade BS--personaly, I don't think profitable is what has effected mine closures--it seems to me it is more all the,some ridiculous, environmental restrictions put on them which many just can't afford. Nothing personal meant, but, you better take the blinders off, and start looking beyond the NEAR future. As for exporting so many things--probably when we made them here before giving china.japan, india, etc. the technology to make them & cut our throats pricing wise--Yes--due to our own stupidity, union wages, Etc.

freetown fred wrote:RMA--I think WN's post covers that international trade BS--personaly, I don't think profitable is what has effected mine closures--it seems to me it is more all the,some ridiculous, environmental restrictions put on them which many just can't afford. Nothing personal meant, but, you better take the blinders off, and start looking beyond the NEAR future. As for exporting so many things--probably when we made them here before giving china.japan, india, etc. the technology to make them & cut our throats pricing wise--Yes--due to our own stupidity, union wages, Etc.

Fred,
Your comment IS my argument, thank you very much.
As mining becomes profitable more will enter the industry,
and the restrictions (that you refer to) become affordable.

As far as "trade BS" it isn't BS, it is TRADE...

and finally beyond the near future we are all dead...

I am all about exports and trade if that's what it takes to float the business. With the amount of $$ that has to be put up for future reclaiming projects and acid mine drainage treatment, they need to sell all that they can...which in my mind would mean exports, industrial, and local sales? I guess the new owners don't see it that way...or they are just being quiet about their plans.

I bought a truckload of coal from LC&N once before, and it was the best anthracite I have ever seen. With the long history that company has in the area, I think it will be a shame if they don't sell any product locally.

hophead wrote:Things are not always what they seem. The sale was a little too quick to happen after the shutdown.

Your right hophead...Masters of the Facade! It just amazes me that they don't burn coal in the LC&N seven story office building? I'm friends with the one son...he gave me a tour of their building one day. When we got to the boiler room I asked what happened to the coal boilers? He said it wasn't cost effective. I laughed and replied your in the coal business with your own source of coal...... Somethings just don't make sense and never will.

Well I talked about this months ago. First our natural gas supply in NEPA will go. Then the purest anthracite in the world. The Mammoth Vein. And we in NEPA can't do a dam thing about it. Makes me sick. People the sharks are stealing the ground benath your feet.