Alpha Natural Resources Holdings Inc. and ANR Inc., along with their affiliate Enterprise Mining Corp. LLC, have substantially divested all of the assets of the enterprise mining operations in eastern Kentucky to Kingdom Coal, a subsidiary of Keystone-Kingdom Resources, based in Fort Worth, Texas, US.
The sale includes the EMC #9A mine and the Roxana preparation plant in Knott/Letcher County, Kentucky. EMC #9A produced 393 000 short t of thermal coal for power generation in 1H16; the operation was idled in July.
ANR CEO David Stetson said: "With the sale of the enterprise mining complex to Kingdom Coal we have commenced the implementation of our strategy to divest non-strategic properties. As we review divestitures of properties, identification of third parties that will retain our team members and resume operations is paramount. In this case, we were pleased that Kingdom Coal has indicated a desire to restart the enterprise mines and retain many of our team members."
Stetson did not rule out the possibility of other non-strategic assets being divested. Terms of the transaction were not released.
Read the article online at: https://www.worldcoal.com/mining/14102016/alpha-natural-resources-affiliate-sells-eastern-kentucky-mining-assets/