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Walter leases bordering reserves

ALABAMA producer Jim Walter Resources has leased reserves containing about 46 million tons of coking coal, expanding the footprint of its No. 4 and No. 7 mines.

Angie Tomlinson
Walter leases bordering reserves

The additional high-quality Blue Creek Coal reserves border its Mine No. 4 and Mine No. 7 operations near Brookwood, Alabama.

JWR said terms of the leases, including royalty rates, were consistent with its existing lease agreements.

“These new leases are an excellent strategic addition to our existing Blue Creek Coal reserves," JWR chief George Richmond said.

“Not only is this coal of a similar quality to our other metallurgical coals, the reserves are adjacent to our current mining operation, which has the potential to expand our production capacity efficiently in the future."

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