Jan 2 2015
Patriot Coal Corporation today announced that it will permanently close the Highland Mine located near Henderson, Kentucky, and the Dodge Hill Mining Complex located near Sturgis, Kentucky, effective December 31, 2014. The Heritage preparation plant and barge loading terminal on the Ohio River will continue processing and shipping coal until inventories are depleted.
As part of Patriot's review of strategic options, the Company is selling certain assets in the west Kentucky region, along with certain coal supply agreements, to affiliates of Alliance Resource Partners, L.P., and certain coal reserves also in the west Kentucky region to a related party of Alliance Resource Partners, L.P.
The Company is engaged in separate talks to sell the closed Highland mine and Heritage facilities to other parties and expects to conclude such transactions in the first half of 2015.
Source: http://www.patriotcoal.com/