January 28th – 29th, 2010The Ritz Carlton Coconut GroveMiami, Florida USA

Reviving American Coal Markets10th Anniversary Coaltrans Americas program highlights:• Evaluate domestic and international coal demand dynamics, including

how you can diversify your production portfolio• Examine the impact of steel demand on metallurgical coal operations

and China’s role in these markets• Consider developments in the capital markets and how you can secure

financing for your upcoming projects• Understand the role of risk management in your coal portfolio in a

credit-constrained environment• Hear from high-level US coal buyers and secure a market for your product

Early Bird Discount Save US$150 book by December 11th, 2009

Are you an end-user? Special end-user attendance rate of just $395

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Coaltrans Conferences organizes large-scale international coal conferences, which attract delegates from all overthe world. It also runs focused regional events, exhibitions, field trips and training courses. It has a reputation foremploying the highest organizational standards. In 2010, Coaltrans is running events in Australia, China, India,Indonesia, The Netherlands, Singapore, South Africa, South America, the UK, the USA and Vietnam.

About the Organizers

The 10th Anniversary Coaltrans Americasreturns to Miami to equip you with thetools you need to solidify your portfolioand ensure your finger is very much ‘onthe pulse’ of your industry.

Thermal coal and met coal producers fromNorth, Central & South America willupdate you on the latest industry trends,and give their thoughts as to futureexpectations in addition to input from keycoal buyers and analysts giving theirperspective on the turbulent coal markets.

Looking to the futureDespite struggling with a huge decline inexports, the met coal market is showingsigns of stabilising. South America alsocontinues to maintain respectable exportlevels and so we now look to the Far Eastto understand the changing dynamics ofthe global coal markets.

Recent parity between natural gas and coalprices has also been a cause for concern, asthe industry waits for attractive pricing levelsto be reinstated. Coaltrans Americas 2010will address these issues and more, providingyou with a thorough overview of theAmericas’ coal industry.

Domestic uncertaintyWith the arrival of the new administration,and the uncertainty surrounding carbonmarkets and the Waxman-Markey legislation,now is the time to meet with your peers anddevelop a coherent response to thechallenges you will face. Keyindustry figures will give theirviews on how you can tackle thisuncertainty and the impact of theeconomic downturn on domesticM&A activity.

Reviving American Coal MarketsThe Americas’ coal industry has been through a tough time, with productionlevels at their lowest in a decade, a huge decline in US exports and utilitycompanies stockpiling coal in greater quantities than ever before. But as themarket begins to show signs of recovery, it is vital that you are up-to-datewith the latest industry trends and position your coal business effectively forthe recovery.

January 28th – 29th, 2010, The Ritz Carlton Coconut Grove, Miami, Florida, USA

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The Ritz-Carlton Coconut Grove, Miami Bask in the glorious, tropical surroundings of Coconut Grove and beyond.The Ritz-Carlton, Coconut Grove, Miami, is the ideal setting from which to take in the panoramicviews of Biscayne Bay, Coral Gables and Miami's glittering skyline, and enjoy the sun andsophistication of the city. A gorgeous, AAA Five Diamond property in the heart of one of thecity's most enchanting neighborhoods, The Ritz-Carlton, Coconut Grove, Miami features 115spacious guest rooms and suites - each with a private balcony and floor-to-ceiling windows,manicured gardens and pool, and a 6,000 square-foot boutique spa and fitness center.

Join coal leaders from across theAmericas and attend the 10th Anniversary CoaltransAmericas 2010 to ensure yourbusiness is ready for the recovery!Register today atwww.coaltrans.com/americas

Day 1Session 1: FACTORS AFFECTINGTHERMAL COAL PRODUCTION• Coal markets at home and abroad• Diversifying coal production portfolios• Thermal coal pricing

Session 2: CENTRAL & SOUTHAMERICAN THERMAL COAL OUTLOOK• Reaching new peaks in Colombian

coal production• Central American & Caribbean Coal Markets• Chile – the new frontier in Americas coal?

Session 3: METALLURGICAL COALMARKETS • Steel demand globally and in the US• The re-emergence of the met coal markets• Brazilian coking coal demand dynamics

Session 4: FINANCING, INVESTMENT &REGULATION IN THE MINING SECTOR• Capital markets perspectives & outlook• M&A – the way of the future?• The Waxman-Markey effect

Day 2Session 5: TO IMPORT OR TOEXPORT? • Competing with natural gas• Freight market outlook• Prospects for west coast imports into Far

Eastern markets

Session 6: EFFECTIVE RISKMANAGEMENT• Risk in context• Enterprise risk management• Regulatory risk, analytical risk and

credit risk

Session 7: DOMESTIC &INTERNATIONAL BUYERS’PERSPECTIVES • Ensuring basin & supplier flexibility• Logistical considerations for coal buyers• Hedging against the domestic coal

market – a case for imported coal

AGENDA AT A GLANCE

U.S. Production by coal region

TUESDAY,

DAY ONE – 28 JANUARY 2010

07:30 Registration opens

08:00 Exhibition opens

08:45 WELCOME AND OPENING REMARKSPaul Clark, Conference Manager, Coaltrans Conferences Ltd

SESSION 1:FACTORS AFFECTING THERMAL COAL PRODUCTION

08:50 CHAIR’S INTRODUCTION & OPENING REMARKSMiles Weigel, Senior Vice President, Argus Media

0900 EMERGING STRONGER: THE CURRENT STATEOF COAL MARKETS AT HOME AND ABROAD� Impact of difficult economic environment and

increased regulatory pressure� Innovations and strategic investments in cleaner

coal technologies� Comparing domestic and international coal marketsCurt Woodworth, Metals & Mining Analyst,Macquarie Capital Inc.

09:20 DIVERSIFYING PRODUCTION PORTFOLIOSAND IDENTIFYING OPPORTUNITIES IN THE USCOAL SECTOR� The importance of a diversified production portfolio� Looking towards future opportunities in the US

coal sectorKevin Crutchfield, President & Chief ExecutiveOfficer, Alpha Natural Resources

09:40 THERMAL COAL PRICING: WHERE DO WE GOFROM HERE?� Analyse current and recent thermal coal prices� Prospects of recovery� Impact of low thermal coal prices on domestic

coal productionTom Hiemstra, Director of Coal, Evolution Markets

10:00 Questions and discussion

10:15 Networking refreshment break

SESSION 2:CENTRAL & SOUTH AMERICAN THERMAL

COAL OUTLOOK

10:45 CHAIR’S INTRODUCTION & OPENING REMARKSJaime Correal Fonseca, Senior Analyst, Wood Mackenzie

10:55 PRODUCER’S PERSPECTIVE: REACHING NEWPEAKS IN COLOMBIAN COAL PRODUCTION� How have freight rates and coal prices impacted

upon volumes and destinations of delivered coal from Colombia?

� Production targets and increasing efficiencies of production

Howard Gatiss, Chief Executive Officer, CMC

11:15 CENTRAL AMERICAN & CARIBBEAN COAL MARKETS� Evolving markets in challenging times� Update on major Caribbean coal power

plant projectsTito Sanjuro, Chief Executive Officer, EGE Haina

11:35 CHILE – THE NEW FRONTIER IN AMERICAS COAL?� Evaluate the current and future role of Chile in the

South American coal markets� What are the prospects for increased interaction

between Chile and the USA?Alejandro Lorenzini, Development Manager,Electroandina y Edelnor

11:55 Questions and discussion

12:10 Networking lunch

SESSION 3:THE METALLURGICAL COAL MARKETS

13:30 CHAIR’S INTRODUCTION & OPENING REMARKSKenneth A. Kisko, President, CoalUSA

13:40 STEEL DEMAND GLOBALLY AND IN THE US� Update on steel demand dynamics in the domestic

US market� Impact of Chinese met coal buying on price� Is a Chinese recovery reflective of the globalsituation and recovery of the met coal market?Don Blankenship, Chairman & Chief ExecutiveOfficer, Massey Energy Company

14:00 ONWARDS AND UPWARDS: THE RE-EMERGENCE OF THE MET COAL MARKET� Increased demand for met coal?� Where is increased demand coming from – Europe,

India or China?� Looking to the future: Expected fluctuations in met

coal marketsVictor P. Patrick, Chief Executive Officer, Walter Energy Inc.

*Comments fromprevious CoaltransAmericas participants

"Coaltrans has developed into one of the keynote conferences covering all aspects of the coal industry."Garrett Nelson, Davenport & Company LLC4

CONFERENCE PROGRAM

"Outstanding line-up of factual-based speakers."Bill Meister, Marston and Marston

"Perfect learning opportunity on the relevant issues from the relevant people regarding US coal." Martin Fransson, BlackRock

www. euromoneyplc.com 5

14:20 DEMAND DYNAMICS: BRAZILIAN COAL MARKETS� How is Brazil affecting demand dynamics in

the Americas?� Prospects for increased US coal imports in Brazil� Where does Brazil fit within the South American

coal markets?Carlos Heitor M de Faria, Director, Sage Consultoria Tecnica Ltda.

14:40 BUYER’S PERSPECTIVE: RESTARTING THEBATTERIES OF US STEEL PRODUCTION� Historical steel production and coal demand� Restarting coke ovens and impact on coking coal

consumption and procurement � Scenarios for the future growth and recovery

15:00 Questions and discussion

15:15 Networking refreshment break

SESSION 4:FINANCING, INVESTMENT AND REGULATION

IN THE MINING SECTOR

15:35 CHAIR’S INTRODUCTION & OPENING REMARKSMatthew Schicke, Managing Director, Americas Coal Trading, a division of Mercuria Energy Trading Inc.

15:45 CAPITAL MARKETS PERSPECTIVES� Financing strategies and the capital markets� Identifying current economic trends and demand

recovery scenarios� Understanding the different perspective of lenders

and equity investorsMatthew Anderson, Director, Metals & MiningGroup, BMO Capital Markets

This session will be followed by a panel discussionfeaturing members of the finance community outliningtheir views on how the credit markets are evolving.

Panellists:Raymond Dunning, Managing Director, Citigroup Global MarketsPatrick Kern, Managing Director, PNC Capital MarketsRandy Rischard, Director of Markets, SNL EnergyR Mitchell Theiss, Managing Director, Metals &Mining Investment Banking, Merrill Lynch

16:40 M&A: THE WAY OF THE FUTURE?� How much M&A activity can we expect

moving forward?� Do we expect hostile takeover activity, as seen in

other sectors?� Merging for asset consolidation – protect your

business effectivelyJames Griffin, Managing Director, Rothschild

17:00 THE WAXMAN-MARKEY EFFECT� Impact of new carbon legislation on coal buying in

the US and internationally � Will the introduction of carbon markets push down

the price of coal to ensure competitiveness of coal, when compared with natural gas?

� Compliance and reporting issues and implications for your balance sheet

� Derivative applications of carbon allowancesMatthew Preston, Principal Analyst, Wood Mackenzie

17:20 Questions and discussion

17:30 10TH ANNIVERSARY NETWORKING EVENING RECEPTIONThe informal setting by the poolside makes theCoaltrans Americas evening reception the ideal placeto further business relations and meet new contacts

DAY TWO – 29 JANUARY 2010

08:00 COALTRANS NETWORKING BREAKFAST WITH ROVING MICROPHONEDelegates will have the opportunity to introducethemselves to their fellow conference attendees,enabling them to make additional business contacts.

08:45 WELCOMING REMARKSPaul Clark, Conference Manager, Coaltrans Conferences Ltd

SESSION 5:TO IMPORT OR TO EXPORT? THE

DETERMINING FACTORS

08:50 CHAIR’S INTRODUCTION & OPENING REMARKSDavid Host, President & Chief Executive Officer, T. Parker Host

09:00 COMPETING WITH NATURAL GAS� At what point does gas become a direct competitor

with coal?� Flexibility in the system – capabilities for utilities to

switch power sources and potential implications for coal demand

� Forecasts for coal and gas prices going forwardMichael Dudas, Managing Director, Jeffries & Company

09:20 FREIGHT MARKET OUTLOOK – CHINA, THEDRIVER OF THE WORLD?� Review of the rollercoaster freight markets – is a

trough or a peak to come?� The role of China as a driver of the dry

bulk market� Cancellations, delays and expected delivery –

where does the order book stand today?Robin Masters, Vice President, SSY New York

09:40 PROSPECTS FOR WEST COAST EXPORTS INTOEASTERN MARKETS� The logistical challenge of West Coast exports� Infrastructure development – will we have a West

Coast terminal?Charles O Monroe, Jr, Senior Vice President CoalDevelopment, Savage Services

10:00 IMPROVING EFFICIENCY AND MANAGINGRESOURCES EFFECTIVELY WITHIN TERMINAL OPERATIONS� Understanding the key challenges within your

terminal operations� Developing strategies for overcoming resource

management and efficiency challengesPhil Ciezak, Regional Manager – North America, QMASTOR

10:20 Questions and discussion

10:30 Networking refreshment break

SESSION 6:EFFECTIVE RISK MANAGEMENT

10:50 CHAIR’S INTRODUCTION & OPENING REMARKSAbudi Zein, Senior Vice President, Genscape

11:00 INTRODUCTION: PUTTING RISK INTOCONTEXT – A BROADER VIEW OF RISK?� Understand the risks you are facing as a coal

buyer/producer� Where have been the pit-holes in the past, how can

they be avoided in the future? � A new role for risk management in your business?Paul Campbell, Energy & Resources Practice Leader,Deloitte & Touche LLP

11:15 ENTERPRISE RISK MANAGEMENT� The implementation of an enterprise-wide risk

management systemEddie Neely, Chief Risk Officer, Alpha Natural Resources

11:30 REGULATORY RISKManaging the impact of carbon legislationStephen Engler, Director of Carbon Services,Deloitte & Touche LLP

11:45 ANALYTICAL RISK� The development of analytical solutions foradministrative and operational riskCindy Rutledge, Manager of Technical Analysis &Fuel Supply Analysis, Tennessee Valley Authority

12:00 MARKET & CREDIT RISK� Other emerging issues relating to coal, carbon and

fuel marketsKim Detiveaux, Director of Energy Enterprise RiskManagement, Deloitte & Touche LLP

12:15 PANEL DISCUSSION

12:50 Networking lunch

SESSION 7:DOMESTIC AND INTERNATIONAL

BUYERS’ PERSPECTIVES

14:00 CHAIR’S INTRODUCTION & OPENING REMARKSJim Thompson, Senior Vice President, EnergyPublishing LLC

14:10 DOMESTIC BUYERS PANEL:� Ensuring basin and supplier flexibility for

coal security� Overcoming the use of lower quality coals in

power plants � Logistical considerations for coal buyers� What can be considered a ‘safe’ inventory in the

current market? � Hedging against the domestic coal market – a case

for imported coal� How are utilities preparing for a carbon

regulated market?

Panelists include:Harry Papadopoulos, Director Coal, NRG EnergyVince Stroud, Vice President of Regulated Fuels,Duke Energy Jeff Wallace, Vice President of Fuel Services,Southern Company*Bud Walker, Managing Director of Fuels, Midwest Generation

15:30 IMPACT OF COAL DEMAND ON RAILROAD DYNAMICS� Changes in coal volumes on rail as a result of

potential/new regulation and an economy in flux� How have coal flows been affected?Douglas Glass, Senior Vice President, Union Pacific Railroad

15:50 BLENDING COAL & BIOMASS: THE FUTURE?� Challenges for stockpiling & efficiencies� Incentives for the conversion of power stations to

accept biomassLarry Moot, Vice President & Chief Engineer, KeLa Energy

16:10 Questions and discussion

16:30 Close of Coaltrans Americas 2010

*subject to final confirmation

© Coaltrans Conferences 2009Coaltrans Conferences reserve the right to alter the programme and/or speakers without notice.

"A great event to meet and learn from industry leaders."William Herlihy, Spilman Thomas & Battle, PLLC

"Great setting for networking. The programme was well organised and interesting."Jesper Henry Skjold, DONG Energy6

*Comments fromprevious CoaltransAmericas participants

"The various perspectives from a wide variety of stakeholders in the global coal market was invaluable." Gregory George, BNP Paribas

www. euromoneyplc.com 7

JOIN OUR EXHBITION

SPONSORSHIP OPPORTUNITIES

Showcase your company at the forefront of the10th Anniversary of Coaltrans Americasand make sure that your business is ready for the recovery!

With the availability of financing improving and themarket showing signs of stabilising, sponsoring an elementof the event ensures your company features at the pinnacleof the conference. Partner us and illustrate your company'sresilience and competitive edge to the key decision makersin the American coal industry.

Join us and…..• Generate new sales• Launch a new company or service• Create greater company exposure• Strengthen your position in the market

• Update the industry with new company information • Enhance a company milestone or anniversary

By taking a sponsorship option at the event, you can haveyour logo displayed on the main conference stage,corporate literature inserted into each delegate bag, andcreate an opportunity for potential clients to contact youby showcasing your company details in the delegatedocumentation and on the Coaltrans Americas 2010website, with a hyperlink to your corporate homepage.

An array of sponsorship opportunities are availableincluding: Hosting the 10th Anniversary Main EveningReception, Branding the Conference Documentation /Bags / Registration Desk and Badges. Furthermore, wecan customise a variety of options to suit your particularbudget, objectives and aspirations.

The Coaltrans Americas exhibition area is the heart ofnetworking activity, ensuring interaction with an array ofconsumers, producers, contractors, traders, shipping andmining related companies.

Exhibiting is the ideal way to showcase your companyportfolio, establish business contacts and promote newproducts or services to the coal industry's biggest players.The exhibition is located adjacent to the auditorium andhosts all refreshments breaks, maximising your networkingopportunity. Pre-built pipe & drape stands are available toguarantee a stress-free exhibition experience and can bedesigned in sizes tailored to your needs.

For further information on Sponsorship or Exhibitionopportunities please contact Roger Cooke, Hotline & Electronic Media ManagerTel: +44(0)20 77798673Fax: +44(0)20 72465200E-mail: rcooke@euromoneyplc.com

Sponsorship and Exhibition OpportunitiesPut your company at the forefront of the North & South American coal markets

Stand 1 SNL Stand 2 GenscapeStand 3 Wood MackenzieStand 4 SAI / Incolab

Stand 5 Energy Publishing Stand 6 QMASTORStand 7 AvailableStand 8 Available

20% DISCOUNT

Post: Roger Cooke

Hotline & Electronic Media ManagerEuromoney Institutional Investor PLC

Nestor House, Playhouse Yard London EC4V 5EX, UK

Two other waysto register

To enquireabout theconference

Fax:

+44(0)20 72465200

EARLY BIRD FEE US$1,399 (by December 11th, 2009) - STANDARD FEE US$1,549 (after December 11th, 2009)

Fee includes: 1. Attendance to all conference sessions 2. Full conferencedocumentation, which includes copies of all available speakers’ papers3. Refreshments, lunches and evening receptions

Ref:please quote this brochure reference

10th COALTRANS AMERICAS JANUARY 28TH – 29TH, 2010

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IT IS IMPORTANT TO FILL OUT ALL THE INFORMATION BELOWPlease photocopy this form for multiple bookings

For bank transfer or check payments only

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CONFERENCE FEE PAYMENTPayment may be made in one of three ways - please tick appropriate box �

1. To make a payment by credit card, please visit www.coaltrans.com to book and pay online

�� 2. Payment by BANK TRANSFER should be made through Lloyds Bank plc,PO Box 72, Bailey Drive. Gillingham Business Park, Gillingham,Kent, ME8 0LS, account number 11127713, sort code: 30-12-18.IBAN No: GB67LOYD30121811127713(all charges to be paid by sender)

�� 3. CHEQUES should be drawn on a UK Bank and made payable toCoaltrans Conferences Ltd. A receipted invoice will be sent to all delegates.

Please complete and return this form together with a copy of your bank transfer orcheque, payable in US$ to Coaltrans Conferences Ltd, and send by post or fax to:

Euromoney Institutional Investor PLC Nestor House, Playhouse Yard, London EC4V 5EX, UK Tel: +44(0)20 77798673, Fax: +44(0)20 72465200rcooke@euromoneyplc.com www.euromoneyplc.com

SPECIAL RATES FOR END-USERS �� US$395This special rate will apply to utilities and industrial end-users of coal based inthe US and worldwide. Eligibility for these rates will be subject to the finaldecision of Coaltrans Conferences.

HOTELAccommodation is available at the Ritz-Carlton Coconut Grove at thefollowing special Coaltrans discounted rate:

Deluxe Room: US$269 (Single or double occupancy) + Taxes + Service

To book rooms, please go tohttp://www.ritzcarlton.com/en/Properties/CoconutGrove/Default.htm. Alternatively call 1-8000-241-3333 quoting Coaltrans Americas 10 to make areservation. Please note that a non-refundable one night deposit will becharged at the time of booking. Under “Optional Information”, please enterCOTCOTA to get the special Coaltrans rate.

Please note that this rate is available to registered Coaltrans participants only.Availability is limited so please book early to avoid disappointment.

Email: rcooke@euromoneyplc.com

(EXAMPLE: Power GenCo operates three 200MW power plants in theUK and consumes 4MT of coal.)

CANCELLATIONS

Conference fee: By completing this registration form, you are agreeing to the terms and conditions whereby you are liable for the full conference fee. All cancellationsmust be received in writing by 28 December 2009 for a full refund, less a 10% administration charge. We cannot accept verbal cancellations. Cancellations receivedafter 28 December 2009 are liable for the full conference fee. However, substitutions can be sent to attend in your place at no extra charge. Registrations received after28 December 2009 are still liable for the full conference fee in case of cancellation. If owing to a force majeure, Coaltrans Conferences is obliged to postpone or cancelthe event. Coaltrans Conferences will not be liable for any travel or accommodation expenses incurred by delegates or their organisations. Badge swapping with otherregistered/non-registered delegates is against our company policy and will not be permitted.

Data protection: The information that you provide will be safeguarded by Coaltrans Conferences Ltd, a division of Euromoney Institutional Investor PLC group, whose subsidiaries may use it tokeep you informed of relevant products and services. We occasionally allow reputable companies outside the Euromoney Institutional Investor PLC group to contact you with details of products thatmay be of interest to you. As an international group, we may transfer your data on a global basis for the purposes indicated above. If you object to contact by telephone �� fax �� or email �� pleasetick the relevant box. If you do not want us to share your information with other reputable companies, please tick this box ��

The easiest way to register is online at www.euromoneyplc.com

Delegates By December 11th, 2009 After December 11th, 2009 Discount

�� 1st US$1,399 US$1,549

�� 2nd US$1,399 US$1,549 �� 3rd+ US$1,119 US$1,239 20%

All bookings made on-site (28-29 January) will be subject to a US$100administration charge.

�� Documentation only US$600 �� Hard Copy �� Soft Copy

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Telephone: US 1(212)224-3789

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