The company sold a portion of its metallurgical coal assets in Alberta, Canada to Ram River Coal, a unit set up by Canada-based merchant bank Forbes & Manhattan.
Ram River Coal acquired 100% of the Ram River and Scurry Ram coal properties in the last week of December 2012 for a consideration of $105m.
The Ram River coal property comprises an in-situ coal resource of about 380 million tons and estimated washed coal product of about 75 million tons.
The second transaction comprised of CONSOL Energy selling its interest in the other coal assets of Alberta to Australian company Riversdale Resources for $24 million.
Riversdale Resources purchased Grassy Mountain Surface Mine containing recoverable reserves of 30 million tons and the transaction is expected to close before June 2013.
CONSOL Energy chairman and CEO Brett Harvey noted, "These two sales represent a continuation of our successful strategy of pulling value forward and focusing on our near-term opportunity set."
