Massey snaps up met coal mine

VIRGINIA-based coal giant Massey Energy has a new notch to its belt after acquiring a metallurgical coal mine in West Virginia.

Vivienne Ryan

Massey announced yesterday it had acquired the Mountaineer No. 2 mine in Greenbrier County, WV.

The deal included related mining permits, mine infrastructure and 200,000 tons of mid-vol metallurgical coal reserves.

Massey said the mine could be restarted quickly and it would be able to bring on additional production almost immediately.

The transaction gives Massey direct access to mine 2 million tons of mid-vol metallurgical coal reserves which the company controls on property adjacent to the Mountaineer No. 2 Mine, using the same mine infrastructure.

Massey chief executive Don Blankenship said the acquisition gave the company immediate opportunities.

“We can add significant metallurgical coal production almost immediately with relatively low start-up costs," Blankenship said.