The acquisition includes about 118 million tons of coal reserves as of 31 December 2011, recently installed coal preparation and loadout facilities, and a fleet of mining equipment.
In addition, substantially all of the mine’s projected production for 2012 through 2016 is committed and priced under existing sales contracts.
Over the last five years, the mine has produced, on average, 4.7 million tons of high-quality sub-bituminous coal for sale to the adjacent Naughton power plant, as well as various industrial customers.
Westmoreland president and CEO Keith Alessi said the company will look for additional strategic acquisitions as it continues to deliver premium value in the coal industry through close affiliation with world class customers.
