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A company official told the Charleston Daily Mail that Magnum’s 50 employees are tentatively scheduled to move in late July.
“The choice of corporate headquarters is reflective of Magnum’s strong commitment to the coal industry, our employees, the city of Charleston and the state of West Virginia,” Magnum president Paul Vining told the paper in a statement.
“We will be within an hour-and-a-half drive from all of our employees and all of our mining operations once we complete the move this summer.”
In a deal effective December 31 of last year, St. Louis-based Arch sold 100% of its stock, operations and reserves for three of its divisions to Magnum, including Trout Coal, Hobet Mining, Apogee Coal and Catenary Coal, which are made up of the Hobet 21, Arch of West Virginia, Samples and Campbells Creek operations. The agreement was made in exchange for Arch’s minority ownership in Magnum.
In total, Magnum holds 17 surface and underground mines and seven preparation facilities, all of which are within the state of West Virginia, and controls more than 629 million tons of reserves, according to the paper.
