SunCoke Energy Inc. has said that it will sell its coal mines and transfer its domestic coke business to its master limited partnership.
SunCoke said it would initially transfer a 33% interest in its Haverhill and Middletown cokemaking facilities in Ohio to SunCoke Energy Partners LP.
Coal mining operations
Revenue from Suncoke's coal mining operations fell 15% to US$ 47 million in Q4 2013, accounting for approximately 12% of total revenue.
"While our coal mining team has delivered significant improvement in productivity, safety and production costs, we believe shareholder value will increase if we exit this business," SunCoke CEO, Fritz Henderson said in a statement.
Suncoke's coal mining operations are located in Virginia and West Virginia.
Edited from various sources by Katie Woodward
Read the article online at: https://www.worldcoal.com/mining/11032014/suncoke_energy_to_divest_of_coal_business_606/