Blackjewel LLC, a bankrupt coal mining company, continued to shed assets, selling two mines in Kentucky and Virginia for $6.35 million in cash plus other consideration.
Tennessee-based Kopper Glo Mining LLC won its auction bid to buy the Black Mountain and Lone Mountain mines in Kentucky and Virginia, a deal approved by Judge Frank Volk of the U.S. Bankruptcy Court for the Southern District of West Virginia on Sept 17.
Kopper is also assuming $38.4 million of retirement obligations and agreed to pay $450,000 in unpaid wages for the workers at the Black Mountain and Lone Mountain mines. It ...
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