Alpha Natural Resources Completes Sale of Assets in Eastern Kentucky
Alpha Natural Resources Holdings Inc.
and ANR Inc. announced the divestment
of all of their affiliated mining assets in
Harlan County, Kentucky, to JRL Coal LLC
of Marietta, Georgia.
The Coalgood assets include a permitted
surface mine operation that has been
idle since 2012 and nearly 12 million tons
of high-quality thermal coal reserves. JRL
has indicated its plan to operate the assets.
“The divestiture of the Coalgood mining
complex represents our ongoing dedication
to our strategic plan regarding idled
assets, which has been to identify non-strategic
properties for divestiture, thereby allowing
Alpha to reduce its footprint,” said
Alpha CEO David Stetson. “In this case,
we will transfer six permits, reduce bonding
by $6 million and also reduce our ARO
in future years by a significant amount.”
Terms of the transaction were not
released.
Alpha Natural Resources Holdings Inc.
and ANR Inc. have affiliate mining operations
in West Virginia and Kentucky, and
supplies metallurgical coal to the steel industry
and thermal coal to generate power.
As featured in Womp 2017 Vol 03 - www.womp-int.com