Contura Announces Agreement to Resolve Reclamation Obligations Related to Powder River Basin Mines
Written by Basinradio on September 20, 2019
In a news release, Contura Energy says it may have found a new buyer for the so called, Western Assets. That’d be Belle Ayr & Eagle Butte coal mines. The initial plan to have Contura take over and resume operations at the mines here hit a snag in trying to negotiate several million dollars worth of royalty payments Contura owes the federal government.
Contura had originally tried to give the mines to Blackjewel, but that company filed chapter 11 bankruptcy back in July of this year.
The new deal is with a company called, Eagle Specialty Materials. The deal says Contura will provide $90.0 million in cash and convey certain Wyoming real property to Eagle Specialty Materials, and they’ll pay $13.5 million to Campbell County, for back ad valorem taxes.