A bankruptcy judge has approved the sale of three James River
Coal Co. mining complexes to a subsidiary of Kentucky-based Blackhawk Mining
LLC.
The sale includes the Hampden complex
in West Virginia , including the assets of
Logan & Kanawha Coal Co. LLC; the Hazard complex in Kentucky, excluding the
assets of Laurel Mountain Resources LLC; and the Triad Mining complex in
Indiana.
Blackhawk subsidiary JR Acquisition LLC
will pay $20 million in cash and assume $32 million in liabilities. The
operations employ about 900 workers.
U.S. Bankruptcy Kevin R. Huennekens
approved motions enabling James River to sell the
mines on Tuesday.
The company plans to complete the sale
by the end of the week.
Richmond-based James
River filed for Chapter 11 bankruptcy in April.
