APNewsBreak: Coal company says it's exporting to Asia

Markets Associated Press

A company with coal mines in Wyoming and Montana has begun exporting fuel to Asia through a Canadian port — a rare bit of a positive news for an industry that's been in a prolonged tailspin.

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Details on Thursday's planned announcement were obtained in advance by The Associated Press.

Utah-based Lighthouse Resources had been seeking approval since 2011 for two coal export terminals in Oregon and Washington. It's faced strong opposition from environmentalists, American Indian tribes and some state officials.

Lighthouse Chief Executive Officer Everett King says the company is pulling out of the proposed Port of Morrow export terminal in Oregon after that project stalled.

Overseas exports of U.S. coal have been touted as a lifeline for coal companies wracked by a wave of bankruptcies and declining domestic demand.