Contura Energy Completes Exit from Powder River Basin Coal Mining
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Contura Energy Inc. completed its exit from the Powder River Basin in Wyoming after two of its previously owned entities were merged with subsidiaries of Eagle Specialty Materials LLC effective May 29.
Contura said one of the surviving entities of the merger that is no longer part of Contura, Contura Coal West LLC, will continue to hold the mining permits for the Eagle Butte and Belle Ayr coal mines in the Powder River Basin.
Eagle Specialty has operated the mines since October 2019, when Contura facilitated a transaction transferring the assets from Blackjewel LLC. That transaction occurred during the bankruptcy reorganization of Blackjewel, which bought the mines from Contura.
Contura Chairman and CEO David Stetson said in the release that the company was pleased to conclude the transition and continue to focus on operating and developing metallurgical coal mines in Central Appalachia. Stetson called the recent development a “final element” in the company’s yearslong exit of the thermal coal-focused Powder River Basin.
Contura said it will receive $625,000 in cash consideration for assets owned by Contura Coal West that were not previously conveyed.
Source: S&P Global
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