Murray Energy has bought its first coal assets outside of the US with the acquisition of Colombia Natural Resources and related assets in Colombia. The deal includes two developed opencast mines – the La Francia and El Hatillo mines – three undeveloped mines and over 184 million short t of coal reserves.
“As the US coal industry continues to be under attack for elimination by the Obama Administration, we must look to international markets to ensure our survival,” said Robert Murray, Chairman, President and CEO of Murray Energy, which is the largest underground coal company in the US.
The acquisition also includes a number of infrastructure assets, including a coal port facility, partial ownership of a railway, eleven locomotives and 530 railcars.
“This is a truly transformational transaction for the Murray Energy,” said Robert Moore, Murray’s Executive Vice President, Chief Operating Officer and Chief Financial Officer.”Acquiring assets in Colombia will broaden our international presence in an attractive market and position ourselves to better serve our customers around the world.”
Edited by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/mining/18082015/murray-energy-buys-colombian-coal-mines-2746/