US based coal producer James River Coal has closed the acquisition of International Resource Partners and its affiliated companies for $475m in an all-cash transaction.

The acquisition was financed using a portion of the proceeds from James River’s recent sales of 7,647,500 shares of its common stock, $230m aggregate principal amount of its 3.125% convertible senior notes due 2018 and $275m aggregate principal amount of its 7.875% senior notes due 2019.

James River previously said that the acquisition increases its offerings of metallurgical coal and provides the company with greater access to the international seaborne coal markets.

James River mines, processes and sells bituminous steam and industrial-grade coal primarily to electric utility companies and industrial customers.