Blackhawk sells high vol-a met coal mineral reserves to arch for $52.5 million

摘要

Blackhawk Mining sold some of its metallurgical coal mineral reserves in northern West Virginia to Arch Coal for $52.5 million, the company said Tuesday. Blackhawk sold some of its Guffey Reserves, or about 20 million recoverable st of coal in the Lower Kittanning seam in Taylor County, West Virginia, adjacent to existing Arch operations, according to the statement. The Lexington, Kentucky-based company said it will keep about 50 million st of reserves in the area for potential divestiture or development. Arch will pay Blackhawk at the time of closing, which is expected in late November after confirmatory diligence is completed.