New York, Sept. 8, 2015 – Sheldon Good & Company (America’s Real Estate Auctioneer™) announced the auction of a 488-acre limestone quarry in Meade County, Kentucky. The winning bidder will acquire this region’s last fully-zoned and nearly fully-permitted quarry for the mining of the valuable, high calcium limestone called scrubber stone. All major permitting hurdles were overcome over the last decade, resulting in a maximized 440 permitted acres, while still enabling operational flexibility of the site for the winning bidder.
The road-grade aggregates in this quarry have a wide variety of uses in construction and infrastructure. In addition, the site’s scrubber stone is used to remove sulfur from power plant emissions. The St. Genevieve seam of limestone found at this site is used by most power plants throughout the entire Ohio River Valley. This site’s reserve of limestone is capable of providing 100+ years by any realistically chosen extraction rate.
Demand for scrubber has increased as a greater focus on the environment has driven federal policy and regulation. In addition to the site’s abundance of scrubber stone and the advantage of its rising demand, the quarry is positioned on a one-mile stretch of the Ohio River. This location provides an enormous competitive advantage, as barge shipping is by far the cheapest means of distribution, and the site offers direct two-river access to most of the US, South America and even Asia via the Gulf of Mexico.
“In the US, some 40% of the aggregate use is for infrastructure and the rest is used for construction,” said John Cuticelli, Chairman of Sheldon Good & Company. “This centrally-located limestone quarry has enormous potential to fulfill growing green energy needs, rebuild much-needed infrastructure and also provide raw materials for the rebounding construction industry. It’s a scarce opportunity considering the site’s enormous volume coupled with the broad zoning and permitting rights that have been secured. This site will allow production for a century or more.”
The sealed bid deadline is 5 p.m. on Wednesday, November 11, 2015. For more information on the auction, call 800-516-0015 or visit www.sheldongood.com.
About Sheldon Good & Company
Sheldon Good & Company is one of the most recognized and respected real estate auction firms in the United States. Founded in 1965, the firm has a 50-year track record of proven results, having sold billions of dollars worth of real estate. From commercial to residential properties, Sheldon Good & Company provides the most successful platform to buy and sell real estate in the history of the auction industry. For more information, please visit www.sheldongood.com.