Inform Worldwide announced that its wholly owned subsidiary, One World Energy Corporation, was assigned a Banning 1 Coal Lease and the dissolution of the Joint Venture between Soam Energy, LLC and Inform Worldwide Holdings.
As terms of the agreement, Soam Energy will receive royalty fee of $1 per ton from all coal produced from the Banning 1 Lease. According to an independent study, the site contains about 6 million tons of coal.
The CEO of Inform Worldwide is pleased that the company obtained such an important asset. Today, the price of Central Appalachia coal per metric ton is valued at $42.80 per metric ton. The company believes that the Banning 1 project brings huge potential to One World Energy as it continues to seek additional opportunities.
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