BRISTOL, Tenn. (WJHL) – Contura Energy, Inc. has signed an agreement to sell its Pennsylvania assets, including the Cumberland Mine, to expedite the company’s transition away from thermal coal production.
According to a release from Contura, the Bristol, Tennessee-based company has divested its operations in Pennsylvania to Iron Senergy Holding, LLC.
The transaction is expected to close before the end of 2020.
Iron Senergy plans to continue operation of the Cumberland Mine in Greene County, Pennsylvania past Contura’s original plans to exit work there at the end of 2022.
Contura chairman and CEO David Stetson says the divestment accelerates the company’s goals to “move to a pure-play metallurgical company providing critical feedstock for steel production.”
The deal is subject to conditions that could result in change at this time.
You can read the full release about the transaction below: