{"id":5859,"date":"2023-10-11T12:04:32","date_gmt":"2023-10-11T12:04:32","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=5859"},"modified":"2023-10-14T15:38:22","modified_gmt":"2023-10-14T15:38:22","slug":"american-resources-finds-buyer-for-carbon-mining-assets","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2023\/10\/11\/american-resources-finds-buyer-for-carbon-mining-assets\/","title":{"rendered":"American Resources finds buyer for carbon mining assets"},"content":{"rendered":"

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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. <\/p>\n\n\n\n

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.<\/p>\n\n\n\n

\u201cAs we have been reviewing various offers and opportunities for our carbon mining division, we have remained steadfast on maximizing the value of these assets under a variety of potential transaction structures,\u201d said American Resources CEO Mark Jensen. <\/p>\n\n\n\n

\u201cWe believe the asset base is one of the last remaining low cost, highly-scalable metallurgical carbon platforms left in the United States and believe the structure enables the company to benefit from its growth and cash return while aligning it with a highly strategic suitor to best position it within the global steelmaking industry.\u201d<\/p>\n\n\n\n

The letter of intent is non-binding and non-exclusive but American Resources said the transaction is expected to close before year end. <\/p>\n\n\n\n

Source: <\/em>American Resources<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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. \u201cAs…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[2195,23,2379,2380],"coauthors":[1644],"class_list":["post-5859","post","type-post","status-publish","format-standard","hentry","category-latest-news","tag-american-carbon","tag-american-resources","tag-carbon-mining","tag-steelmaking-industry"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t