Draper, Utah – Mazuma Capital announces it has financed a monolithic mining system for a leading Appalachian coal producer. The privately held company controls mines in multiple states and has copious reserves of rich metallurgical-rated coal.
Metallurgical coal is the prized class of coal needed in steel making and is distinguished by its special quality characteristics including high carbon content, low expansion pressure, low sulfur content, and various other chemical attributes. Metallurgical coal is also high in heat content and desirable to utilities as fuel for electricity generation. Consequently, metallurgical coal producers, such as the lessee, can select markets eliciting premium revenue.
The chief financial officer of the company said, “Mazuma Capital came through when others couldn’t. We received promises from other large money centers that were later broken. Mazuma came through with a competitive rate and structure and delivered on their commitments. This $7.65 million mining system is critical to our profitability.”
“Our team is fixated on customer service and crafting solutions,” said Jared Belnap, president and CEO of Mazuma Capital.” “Buddy Zarbock, our VP of Vendor Relations, orchestrated the relationship between lessee and the vendor masterfully. A transaction of this size and scope is intricate and requires matchless dedication to make it a win for all parties.