Americas seals deal with Evans

TENNESSEE-based Americas Energy has closed its acquisition of Kentucky mining operator Evans Coal Company.
Americas seals deal with Evans Americas seals deal with Evans Americas seals deal with Evans Americas seals deal with Evans Americas seals deal with Evans

The Americas Energy headquarters in Tennessee.

Donna Schmidt

According to Kentucky professional engineer Michael Gambrel, Evans Coal controls approximately 348 million tons of reserves, or 211Mt of recoverable coal, worth more than $US13 billion at current market prices.

"We plan to continue the operations of Evans Coal Corporation as a wholly owned subsidiary of Americas Energy Company,” Americas chief executive Chris Headrick said, noting that the deal included the Highway 92 project and the Artemus project as well as a “substantial” reserve in Breathitt County.

"We have acquired permits from Evans Coal Corporation that will allow us to, as contracts are placed, increase our monthly coal production to approximately 100,000 tons per month in an effort to meet the needs of specialty coal buyers around the world."

Americas Energy commenced production at Evans’ Upland Church surface operation last October. In November, the company said its acquisition would include leased mineral rights to an estimated 25,000 acres of property in Bell, Harlan, Knox and Breathitt County, Kentucky, and more than 60 pieces of heavy equipment.

"Evans has an enormous high-grade specialty coal reserve that includes Kentucky Blue Gem, Jellico and the Harlan coal seams. We are also acquiring two additional mining permits that will allow us to immediately begin expanding our specialty coal production,” Headrick said at the time.

Based in Knoxville, Tennessee, Americas has projects in operation in Kentucky and Tennessee and is evaluating several other opportunities in the region.

loader