Coronado Reaches Agreement to Sell Its Logan Mining Complex, W.Va.
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Coronado Global Resources said it has reached agreement to divest ownership of its Logan Mining Complex located in West Virginia.
The Logan Mining Complex comprises coal mining properties, leases, mining permits and related infrastructure, including a preparation plant and loadout facility, located in Boone, Logan, and Wyoming Counties, West Virginia. Coronado will sell all of its interest to the Kentucky company Phoenix Coal Holdings, owned by Mitch Potter.
“This transaction represents a further step in streamlining Coronado’s portfolio and focusing on our high quality core assets. The divestment transfers future obligations associated with Logan while enabling us to prioritize capital and operational focus elsewhere,” said Interim Chief Executive Officer Gerry Spindle.
Completion of the transaction is subject to customary closing conditions and is expected to occur in July.
Coronado Global Resources together with its subsidiaries, produces, markets, and exports metallurgical coal in Asia, North America, South America, Europe, Australia, and internationally. The company owns 100 percent interests in the Curragh mining property located in the Bowen Basin of Queensland, Australia; and the Buchanan and the Logan properties, as well as development mining properties comprising the Mon Valley and the Russell County properties primarily located in the Central Appalachian region of the United States. It also owns and controls a portfolio of operating mines and development projects in Queensland, Australia; and Virginia, West Virginia, and Pennsylvania in the United States.
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