CONSOL selling five mines to Murray Energy
CONSOL Energy Inc. is selling all five of its longwall coal mines in West Virginia to Ohio-based Murray Energy for $3.5 billion.
Pennsylvania-based CONSOL said Monday the deal for its Consolidation Coal Co. subsidiary is good for long-term growth.
CONSOL is selling McElroy Mine, Shoemaker Mine, Robinson Run Mine, Loveridge Mine and Blacksville No. 2 Mine, plus river and dock operations. The mines produced a combined 28.5 million tons last year.
Chairman J. Brett Harvey says it was a difficult decision to sell the mines. He says the West Virginia workers are among the safest and most productive in the world.
CONSOL is keeping the Buchanan Mine in Virginia.
The United Mine Workers of America says the deal doesn't change anything for union workers.