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Aug. 6, 2019, 6:18 p.m. EDT

Judge OKs sale of Blackjewel coal assets to Contura

Government still needs to approve sale of three of bankrupt company’s mines

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By Associated Press


Associated Press
A dump truck hauls coal at Contura Energy's Eagle Butte Mine near Gillette, Wyo.

CHARLESTON, W.Va. — A federal judge has approved Contura Energy’s bid for three mines owned by the bankrupt Blackjewel coal company.

A Blackjewel spokesman said U.S. District Judge Frank Volk in West Virginia approved the sale Tuesday. The deal still needs the federal government’s approval before it’s finalized.

Contura /zigman2/quotes/200251330/composite CTRA -0.41%   has said it wants to reopen and rehire staffers from Blackjewel’s Belle Ayr and Eagle Butte mines in Wyoming but still needs to determine employment decisions at the Pax Surface Mine in West Virginia.

A Contura spokesman declined to comment Tuesday pending the federal government’s approval. The Tennessee-based company had bid nearly $34 million for the three mines.

The judge also approved bids for several other Blackjewel mines in the two-day sales hearing.

Blackjewel filed for Chapter 11 bankruptcy protection July 1.

/zigman2/quotes/200251330/composite
US : U.S.: NYSE
$ 7.30
-0.03 -0.41%
Volume: 89,209
Sept. 30, 2020 3:40p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$134.20 million
Rev. per Employee
$1.07M
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