Alpha Natural Resources Affiliate Announces Completed Sale of Mining Assets in Eastern Kentucky
KINGSPORT, Tenn., Oct. 13, 2016
KINGSPORT, Tenn., Oct. 13, 2016 /PRNewswire/ — Alpha Natural Resources Holdings, Inc. and ANR, Inc., along with their affiliate Enterprise Mining Corporation, LLC, announce the divestment of substantially 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.
The sale includes the EMC #9A mine and the Roxana preparation plant in Knott/Letcher County, Kentucky. EMC #9A produced 393,000 tons of thermal coal for power generation in the first half of 2016; 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.
About Alpha Natural Resources Holdings, Inc. and ANR, Inc.
Alpha Natural Resources Holdings, Inc. and ANR, Inc. have affiliate mining operations in West Virginia and Kentucky, and supplies metallurgical coal to the steel industry and thermal coal to generate power. ANR has offices in Kingsport, Tennessee, and Julian, West Virginia, which support 17 active mining operations. ANR is committed to being a leader in mine safety and an environmental steward in the communities where its affiliates operate. For more information, visit ANR’s website (www.alphanr.com).
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SOURCE Alpha Natural Resources