Mercuria Energy to market coal for miner Xinergy

Wed Aug 6, 2014 6:47pm EDT
 
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Aug 6 (Reuters) - A subsidiary of Mercuria Energy Group Holding SA, which became a major force in commodities trading in March when it bought JPMorgan's physical commodities business, signed a deal to sell coal for Appalachian miner Xinergy Ltd.

Mercuria Energy Trading Inc will sell Xinergy's thermal and metallurgical coal in the U.S. and international markets.

The deal will continue through Dec. 31, 2015, with provisions for extensions, Knoxville, Tennessee-based Xinergy said in a statement on Wednesday.

Financial details of the deal with were not disclosed.

Mercuria Energy Group, led by two former Goldman Sachs executives, bought JPMorgan's commodities business - one of the most powerful oil and metals desks on Wall Street - for $3.5 billion. (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Maju Samuel)