American Resources said its subsidiary American Carbon has entered into a letter of intent to sell its carbon mining assets to an undisclosed strategic party for the total consideration of $280 million. The sale includes the assets of American Carbon’s McCoy Elkhorn Coal, Perry County Resources and Wyoming County Coal operating subsidiaries including certain debts and environmental reclamation bonds. “As…
Read MoreTag: American Carbon
American Resources to sell non-core Deane Mining assets
Central Appalachian-focused American Resources said its American Carbon subsidiary has entered into a binding letter of intent to sell certain assets associated with the Deane Mining complex in eastern Kentucky for $20.6 million. The sale “will further position American Carbon as a low-cost, streamlined, and pure play growth platform in the metallurgical carbon industry,” said Mark Jensen, CEO of American…
Read More