Arch Coal Sells Kentucky Subsidiary To Blackhawk Mining

St. Louis-based Arch Coal has sold its Hazard subsidiary operation in Kentucky to Blackhawk Mining for $26.3 million cash.

The sale includes five Kentucky coal mines, a processing facility, a port facility and 38 million tons of coal reserves. The sale also relieves Arch from $15.6 million in reclamation liabilities, and the company said it expects to free up $43.8 million in surety bonds for reclamation.

Arch also said it could receive up to $35 million in royalty payments for coal reserves it is keeping in Kentucky. The company’s streamlining of its operations comes after a $371.2 million loss in the fourth quarter of 2012.

Read more from the St. Louis Business Journal

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