The New Elk Coal Company, a subsidiary of Toronto, Ontario-based Cline Mining Corporation, entered into a long term agreement with the Port of Corpus Christi Authority of Texas Tuesday that will allow New Elk to lease 18 acres of land proximate to the bulk coal shiploader for five years that will serve as a coal storage area for its metallurgical coal from its Colorado coal mine. The land will provide the company with immediate access to the world seaborne coal markets.
Elk Coal also has the option to extend the lease for five additional periods of five year.