A bankruptcy judge has approved the sale of three James River Coal Co. mining complexes to a subsidiary of Kentucky-based Blackhawk Mining LLC.
The sale includes the Hampden complex in
West Virginia, including the assets of
Logan & Kanawha Coal Co. LLC; the Hazard complex in Kentucky, excluding the
assets of Laurel Mountain Resources LLC; and the Triad Mining complex in
Blackhawk subsidiary JR Acquisition LLC will pay $20 million in cash and assume $32 million in liabilities. The operations employ about 900 workers.
U.S. Bankruptcy Kevin R. Huennekens approved motions enabling
James River to sell the
mines on Tuesday.
The company plans to complete the sale by the end of the week.
River filed for Chapter 11 bankruptcy in April.