Blackhawk Mining an initial bidder for James River Coal assets

Going into an Aug. 18 asset auction, James River Coal in an Aug. 16 bankruptcy court filing identified JR Acquisition LLC as the “stalking horse” bidder for many of its assets.

JR Acquisition, a wholly owned subsidiary of Central Appalachian coal producer Blackhawk Mining LLC,  is a stalking horse bidder for mining complexes commonly referred to as the Hampden Complex in southern West Virginia (including the assets of coal marketer Logan & Kanawha Coal Co. LLC), the Hazard Complex in eastern Kentucky (other than the assets of debtor Laurel Mountain Resources LLC) and the Triad Complex in Indiana for an aggregate purchase price of $50m plus the assumption of certain liabilities.

The court plans an Aug. 20 hearing to look at auction results.

In the attached stalking horse bidder agreement, the bidder contact is: Blackhawk Mining LLC, 3228 Summit Square Place, Suite 180, Lexington, KY 40509, Attention: Nicholas Glancy, fax: (859) 543-0516, E-mail: nglancy@blackhawkmining.com.

On April 7, James River and all of its wholly owned subsidiaries filed a voluntary petition under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia. Like many U.S. coal producers, James River Coal has been hammered by a down coal market that has gone on for about three years now and is only showing mild signs of letting up.

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.