Alpha conveying permits, equipment, reserves in 4 states

By The Associated Press

Alpha Natural Resources says it has agreed to convey 280 permits, reclamation equipment, royalty payments and 100 million tons of coal reserves in four states to Lexington Coal Co.

 

MORGANTOWN, W.Va. (AP) — Alpha Natural Resources says it has agreed to convey 280 permits, reclamation equipment, royalty payments and 100 million tons of coal reserves in four states to Lexington Coal Co.

According to Alpha, Lexington will get $204 million at closing and $112 million in installments to help with bonding, reclamation, water treatment and other obligations. The deal, subject to regulatory approvals, applies to holdings in Kentucky, Illinois, Tennessee and West Virginia.

The company emerged from bankruptcy reorganization last year.

In West Virginia, it recently sold Green Valley mining assets to Quinwood Coal Co. and sold of its New River Energy natural gas operation to Kinzer Drilling.

Alpha, based in Kingsport, Tennessee, plans to open a new underground metallurgical coal mine in Raleigh County targeted to start producing in September.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs