Unidentified individuals told Reuters Friday that the producer had retained investment bank JP Morgan to sell its US arm Mechel Bluestone.

When it first acquired Bluestone in 2009 from private owners for $425 million plus shared costs, the deal was valued at about $800 million including Bluestone debt of $135 million.

Now, sources told the wire, Mechel is under fire and seeking to reduce more than $9 billion in debts.

With the American market still in trouble, selling the asset will not be an easy task.

One of the sources told Reuters a suggested price for the arm would be about half of its initial value given the rough industry economy.

Bluestone, in a scenario of Asian oversupply due to a drop in US exports, idled its US mines at the end of 2012 but reopened them in full force earlier this year.

In the meantime, Mechel’s debt roll has continued to grow.

In early June, the producer confirmed it had delayed the development of its key Elga coal deposit in Russia by up to a half decade. Elga is thought to have one of the world’s largest blocks of untapped coking coal.

Mechel also has put a hold on its efforts to sell up to a quarter of its entire mining division on economic conditions, according to Reuters.

Bluestone, which operates three West Virginia mines, sold about 2 million tonnes of coking and steam coal last year according to its annual report.

Neither Mechel nor JP Morgan has released comment on the potential sale.