Deal for Wyoming mines called best-case for idled miners
CHEYENNE, Wyo. | Two of the biggest U.S. coal mines have been sold, raising the possibility that hundreds of miners in Wyoming could return to work almost four months after the owner of the mines filed for bankruptcy protection.
Tennessee-based Contura Energy announced Monday that Blackjewel closed Friday on the sale of the Eagle Butte and Belle Ayr mines to a subsidiary of Alabama-based FM Coal.
Contura, which owned the mines before selling them to Blackjewel in 2017, participated in the deal as the mines' permit holder.
"In our view, this transaction represents a best-case-scenario outcome to a lengthy and uncertain process, putting the mines in the hands of an operator with a long-term interest in the Powder River Basin, and getting hard-working coal miners back on the job," Contura CEO David Stetson said in a release.
Read more: https://rapidcityjournal.com/news/latest/deal-for-wyoming-mines-called-best-case-for-idled-miners/article_a47bd89c-0bde-5599-97d1-0bce170d1fa6.html