Alpha Natural Resources Holdings Inc. and ANR Inc., along with their affiliate Enterprise Mining Corporation LLC, announced Oct. 13 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.
These selling companies were formed earlier this year out of a bankruptcy reorganization of Alpha Natural Resources.
This sale includes the EMC #9A mine and the Roxana preparation plant in Knott/Letcher counties, Kentucky. EMC #9A produced 393,000 tons of 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.
Alpha Natural Resources Holdings and ANR Inc. have affiliate mining operations in West Virginia and Kentucky, and supply 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.
Kingdom Coal registered itself with the Kentucky Secretary of State on Oct. 12. A company representative, Michael Blubaugh, is shown with an address in Fort Worth.