Beacon Redevelopment Industrial Corporation Provides Update on Coal Mining Projectsadmin
Beacon Redevelopment Industrial Corporation announced that it’s wholly owned subsidiary Beacon Energy Corporation entered into negotiations to purchase additional coal rights and the finalization of previous negotiations.
As previously announced, Beacon Energy Corporation announced it had negotiated to acquire a 950 acre mining property in Western Pennsylvania. After further investigation and negotiations, the company has entered into a binding letter of intent to purchase only 750 of the 950 acres offered. “Some of the rights would not have benefited our company, so all parties have mutually agreed to our revised offer,” said Adam Marek, President & CEO.
Mr. Marek also stated “That Beacon Energy Corporation has begun additional negotiations for coal mining rights on a separate parcel of land consisting of approximately 270 acres. In total, the company will then control/own 100% of mining rights for over 1,000 acres of coal, spanning across three different municipalities in Western Pennsylvania. The company declined to make an offer for the post-mining land rights. As I only want to focus on operations that will create positive revenues for our company’s energy operations .We believe the companies that Beacon Energy may consider for a joint venture who will perform the actual mining of the coal will be able to implement the longwall method of extracting the coal from these properties for several years to come. The coal as mentioned is part of the Upper and Thick Freeport Coal Seams in Western Pennsylvania.”
Beacon specializes in acquiring undervalued properties that offer the potential for above average return on investment along with multiple assets and development ability at distressed prices, the properties must offer recyclable/salvageable materials, energy resources or mineral rights along with the potential for redevelopment and or desirable development potential; the company also seeks along with the above for mentioned, properties that have the possibility for governmental grants, tax rebates or deferments as part of their criteria for acquisition. Please visit the company’s website at www.beaconredevelopment.com for all the latest information and updates.