forget the past ,think of the future, page-2

Now COK will survive and make some money if she (he) stays low cost....essentially edging out other mines to close.

The future for PCI and coking coal long-term is not that great.

Natural gas is going to be a killer. With the final blow coming from pollution.

Coking/PCI coal will still be required. The most profitable mines will of course survive. However, DRI will explode in the next 10 years. Currently it accounts for 5% of pig iron production.

It is more efficient per energy input and less polluting. Steel production no longer requires the huge expense of the construction/operation costs of coke ovens and most importantly the reduction in pollution not running cokies is massive!

However, the cost of gas is going to be game changer. Whether it be conventional natural, coal seam or shale.

Not down ramping COK. This is relevant to all coking/PCI players and like I said, if COK stays low cost she will be an OK investment.

Watch the DRI space.