The sale of Walter Energy Canada’s Canadian metallurgical coal mines to Conuma Coal closed on 9 September. The assets consist of the Brule, Wolverine and Willow Creek mines in British Columbia.
According to a Walter Energy Canada press release, Conuma Resources intends to resume mining operations at the Brule mine in the new future and may resume further operations in 2017.
Conuma is part of the ERP Group of companies, which has brought a number of coal mining properties in the US – including former Walter Energy mines in West Virginia and Alabama.
Metallurgical coal prices have risen substantially this year, stoking interest in metallurgical coal properties.
With this sale, Walter Energy’s only remaining assets remain in the UK. According to the company, it intends to pursue a transaction for there assets.
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/coal/13092016/conuma-buys-walter-energy-canadian-mines-2016-2412/