The Alabama State Port Authority has bought the Blue Creek Terminal from coal production company, Walter Energy. The total cost for the coal terminal was US$ 25 million.
"This was an important transaction for [Walter Energy]," said Walt Scheller, CEO. "In addition to realising value from the sale of a non-core asset, we've secured a throughput agreement that takes care of our export capacity needs for our Alabama mines."
As part of the transaction, the parties agreed to a long-term extension of the existing coal handling agreement that addresses both Walter Energy’s current and future export requirements. The company currently exports approximately 7 million t of metallurgical coal through the Port Authority's McDuffie Coal Terminal in Mobile, Alabama.
Adapted from press release by Sam Dodson