The coal leases and property are estimated to contain about 30 million tons of non-reserve coal deposits and about 12,100 leased acres adjacent to the waterway, Green River.
Rhino president and chief executive officer Dave Zatezalo said the company is pleased to make an acquisition that provides inland waterway access from the Illinois Basin.
"This acquisition provides Rhino lower cost capability to develop a substantial footprint in a major coal producing basin, thus strengthening our product and market offerings," said Zatezalo.
The Illinois Basin coal reserves are expected to provide the company with enhanced export opportunity to non-US customers.
