Sale of Blackjewel’s Wyoming mines in serious trouble

Posted On Dec 31 2020 by

first_imgSale of Blackjewel’s Wyoming mines in serious trouble FacebookTwitterLinkedInEmailPrint分享Casper Star Tribune:Bankrupt coal operator Blackjewel called the sale of its two idling Wyoming coal mines “dead,” according to a statement made by a key creditor in court documents Tuesday.The announcement casts another layer of doubt over the chance Campbell County’s Eagle Butte and Belle Ayr coal mines — the nation’s fourth and sixth largest by production — will reopen in the foreseeable future.Blackjewel filed a motion Thursday to separate the sale of its two Wyoming coal mines to coal company Contura Energy from the sale of its Pax Surface Mine in West Virginia to the same company. But in response to the motion, Riverstone Credit Partners, a senior creditor owed millions of dollars, said the company’s motion to revise the sale terms violated the original settlement reached with lenders.Although a federal bankruptcy judge approved the sale of three Blackjewel mines to Contura on Aug. 7, the deal has not been finalized. The sale hinges on the final approval of the federal government, after it objected to outstanding royalties and leasing terms of the Wyoming mines.What’s more, the sale may be held up over “Contura’s insistence on shortening the existing mine plans at the western mines,” Tuesday’s court document’s revealed.More: Blackjewel says sale of Wyoming mines is ‘dead,’ according to creditorlast_img read more