“This acquisition significantly increases SunCoke Energy’s coal reserves, representing an important step forward in building the value proposition we offer customers,” said Fritz Henderson, who will serve as chairman and CEO of SunCoke Energy upon its separation from Sunoco. “Given its contiguous nature, we believe we can manage this acquisition effectively as part of our existing Jewell coal and coke operations in Vansant, Va., allowing us to create immediate value for the business.”
The assets acquired in this transaction include two active underground mines and one active surface and high wall mine currently producing 250,000-300,000 tons of coal annually, with the potential to expand production in the future. Current production volumes are contracted for sale through 2011.
