Coal producer Walter Energy has acquired the assets of Mobile River Terminal Co in Mobile, Alabama, from a subsidiary of US Steel.

The facility is located at the Port of Mobile, less than four miles from the McDuffie Terminal where Walter Energy currently ships all of its export coal to customers in South America and Europe.

Walter Energy interim CEO Joe Leonard said that the Mobile River Terminal is of significant strategic importance to the company.

"This acquisition will help ensure that we will have unconstrained shipping capacity to support our long-term coking coal production plans in Alabama. In addition, this facility should help maintain low mine-to-port costs and make us less reliant on third parties," Leonard said.

Walter Energy is a US based producer and exporter of premium hard coking coal for the global steel industry and it also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas.