Hallador Energy’s Sunrise Coal LLC, which just closed on a buy of Vectren Corp.’s (NYSE: VVC) three underground coal mines in Indiana, on Aug. 29 idled one of them, the older Prosperity mine.
Hallador in a Sept. 3 filing at the SEC attached a Sept. 4 slide presentation it intends to use in a conference call with analysts. The presentation said that Prosperity was idled on Aug. 29 and that a production unit from Prosperity has been transferred to the Oaktown 2 mine, which is part of the two-mine Oaktown complex also bought from Vectren.
The existing coal inventory at Prosperity will be cleared by Dec. 1. The coal contract business for Prosperity will be fulfilled out of both Oaktown and the Prosperity deep mine in the region that Sunrise Coal had already operated.
The presentation noted that the prior Sunrise mines, and the ex-Vectren mines, shared a number of customers in 2013, including Vectren (A.B. Brown plant), Indianapolis Power & Light (Harding Street and Petersburg plants), Orlando Utilities Commission (Stanton plant), Hoosier Energy (Merom plant), NiSource (Bailly plant), JEA (St. Johns River Power Park), and Lakeland Electric (C.D. McIntosh Jr. plant).