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owns 100% of La Tabaquera coal mine in Guaduas, Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal.
owns 100% of La Tabaquera mine in Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal.
These critical conditions have resulted in significant pent-up demand for a cleared coal price risk management product such as the gC ICE NEWC Futures contract.
ICE Futures Europe President David Peniket said, "The addition of the NEWC Futures contract will play a key role in complementing ICE's existing Rotterdam and Richard's Bay contracts and result in an unequalled global seaborne coal offering for market participants.
Market feedback from traders across this spectrum strongly indicates that a futures contract settled against globalCOAL's NEWC Index(R) will be successful in capturing liquidity.
ICE Futures Europe plans to launch financially-settled futures contracts based on the globalCOAL NEWC Index in the third quarter of 2008.
The Company's common stock is currently traded on the Nasdaq Stock Market under the symbol NEWC
Newcor is listed on the Nasdaq Stock Market under the symbol NEWC