Press Release Source: America West Resources, Inc.
America West Resources Wins $8.3 Million Coal Supply Agreement With Major Power Agency in Western U.S. Wednesday July 2, 12:29 pm ET Customer's Option to Purchase Excess Production Provides for Additional $12.45 Million in Potential Revenue to America West
SALT LAKE CITY, July 2 /PRNewswire-FirstCall/ -- America West Resources, Inc. (OTC Bulletin Board: AWSR - News), a domestic coal producer with mining operations in Central Utah, today announced that the Company has agreed to supply a major power agency in the Western U.S. with coal produced from its Horizon Mine pursuant to a 12-month Coal Supply Agreement with a minimum contracted value of $8.3 million. America West will also offer this agency excess production above minimum contracted tonnage, and it has agreed to use its best efforts to accept it, thereby providing America West with the opportunity to realize up to $12.45 million in additional revenue. ADVERTISEMENT
America West recently announced that it commenced mining operations in a second section of its Horizon Mine, which is helping the Company to further accelerate coal production. According to Alexander Walker III, President and CEO of America West, "We are delighted to become a preferred supplier of coal to this major power agency and look forward to optimizing this new relationship to strengthen our operating platform and advance America West through what is proving to be a very exciting growth period in our history."
About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources, Inc. is an established domestic coal producer focused on the mining of clean and compliant (low-sulfur) coal and its sale primarily to U.S. utility companies for use in generating electricity. Since 2003, the Company has extracted over 1.3 million tons of coal from its owned and operated Horizon Coal Mine based in Central Utah. For more information, please visit www.AmericaCoal.com.