A decision to combine the Coal Trading Association with the American Coal Council could come soon, as officials from the two US-based organizations continue to inform members about the proposal.
ACC CEO Betsy Monseu hosted an online conference Thursday with members of both groups to outline the potential merger. It was the second such meeting since the organizations announced they were considering unification at the CTA's annual Coal Trading Conference on December 5 in New York.
During Thursday's conference, CTA President Steve Watson said the merger would bring about a new Coal Trading Committee within the ACC that would focus on developing and maintaining industry standards for coal trading activity, much like what the CTA does today. Any committee decisions or recommendations would ultimately be brought in front of the ACC board for final approval.
Monseu said that about 70% of CTA members are ACC members. The CTA currently has 41 members, while the ACC has 155 members.
A date for a member vote on a combination has not been announced, though Monseu asked that questions or comments be submitted by Tuesday. Officials said in early December they hoped the process to approve or deny a merger would be complete within six to eight weeks.
