The acquisition also included approximately 33,000 acres containing an estimated 43 million tons of probable high-quality thermal and industrial coal reserves in the Central Appalachian (CAPP) coal basin.
In addition to primarily serving the industrial coal markets, Middlesboro will continue Appolo’s long-standing supply relationships with several blue-chip customers.
Bayside Capital managing director Sean Ozbolt said that JW Resources was established to acquire premier low-cost assets that participate in the strong long-term global utility and industrial demand environment.
"After acquiring the Straight Creek operations we evaluated more than 50 add-on acquisition opportunities, and ultimately identified the Appolo assets as the best fit due to their low-cost operations, complementary industrial customer base and close proximity to Straight Creek," Ozbolt added.
"JW Resources is now a world-class CAPP coal operation that is well positioned to benefit from the improving utility market and the highly stable industrial market."
JW Resources is focused on identifying, acquiring and operating coal mining and related assets in the US, and currently operates the Straight Creek thermal coal operations, acquired in February 2013, in eastern Kentucky.
