By January 25, 2018 Read More →

Murray Energy scoops up Kentucky coal

By CASEY JUNKINS

The Intelligencer and Wheeling News-Register

CHARLESTON, W.Va. — Although the International Energy Agency projects a “decade of stagnation” for coal, Murray Energy Corp. plans to acquire a 51-percent stake in five additional mines located in Kentucky.

The five western Kentucky mines have been owned by Armstrong Energy Inc., which filed for bankruptcy last year. Plans call for the “secured noteholders” of Armstrong Energy to hold 49 percent of the interest in the new company that will manage them, with Murray holding the 51-percent portion.

“After this transaction is completed, Murray Kentucky and the lenders of Armstrong Energy will jointly own five mines that are strategically important in the Illinois Basin. These operations will complement our existing mines in the Illinois Basin,” said Robert E. Murray, who serves as chairman, president and CEO of his company.

Murray operates several coal mines throughout the U.S., including the Century Mine near Beallsville, the Ohio County Mine near Benwood, the Marshall County Mine near Cameron, the Monongalia County Mine near Blacksville, W.Va., the Harrison County Mine near Clarksburg, W.Va., and the Marion County Mine near Mannington, W.Va.

Murray also owns mines in Illinois, Kentucky and Utah, as well as the nation of Columbia.

Read the entire article: http://www.theintelligencer.net/news/community/2018/01/murray-energy-scoops-up-kentucky-coal/

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