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Westmoreland Coal Company declared today it has decided to obtain Chevron Mining’s Kemmerer mine in the Hams Fork Region of Southwestern Wyoming for the amount of $179 million and the sum of $14 million in working investment.   The contract comprises of 118 million tons of coal capitals, sufficient supply for 20 years of production, as well as an experienced workforce and high-tech coal preparation and load out conveniences.  The procurement cost will be financed with $74 million in cash and the conjecture of $118 million in definite accountabilities, counting in post-retirement health, annuity, black lung and asset retirement responsibility accountabilities.

Excerpt:

“The purchase price will be funded with $74 million in cash and the assumption of $118 million in certain liabilities, including post retirement medical, pension, black lung and asset retirement obligation liabilities.”

Original article can be found at:

http://www.forbes.com/sites/marketnewsvideo/2011/12/27/westmoreland-coal-acquires-kemmerer-mine/

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