The company has also executed an agreement to acquire the existing North River steam coal mine in Fayette County and Tuscaloosa County from a subsidiary of Chevron.
Total consideration for the transaction includes minimal cash due at closing and also includes the assumption of certain liabilities, not expected to be material to Walter Energy.
The company said it expects to close on both transactions on 30 April 2011.
Walter Energy is a 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.
