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Indiana Mine Sold For Second Time Since 2014

By Indiana Public Media News Staff

Posted March 23, 2016

Triad Mining LLC is selling 14 million tons of coal reserves to Sunrise Coal LLC, a subsidiary of Hallador Energy, for $18.25 million.

Triad Mining is a subsidiary of Blackhawk Mining Company. Blackhawk Mining Company laid off 226 workers in West Virginia this month, as well as 146 this past January.

Blackhawk will retain a substantial amount of the facilities, including one underground mine, one surface mine and one coal preparation facility. The company has agreed to sell 14 million tons of proven leased and owned coal reserves.

"This transaction effectively monetizes the sales position and underground reserves at our Freelandville complex, bolsters our liquidity position, and allows us to focus on implementing further capital enhancements to our metallurgical coal platform inWest Virginia.," Blackhawk CEO Mitch Potter said in a statement.

Blackhawk also owns the Log Creek Mining Complex, and said in the statement that it "remains committed" to the complex, located in Pike and Gibson counties.

Triad Mining Co. purchased the Freelandville Mining Complex in August 2014 from the James River Coal Company, who had declared bankruptcy four months prior.

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