Blackhawk officials said it has made a deal for the Panther, Rocklick, Wells, Kanawha Eagle, Paint Creek and Midland Trail complexes as well as reserve areas.
No financial terms were disclosed, and the deal is pending approval of a U.S. Bankruptcy Court judge.
Blackhawk hopes to complete the acquisition by late September or early October.
Patriot, which moved its headquarters to Scott Depot, West Virginia, earlier this year, filed for Chapter 11 bankruptcy protection on May 12. The bankruptcy court already had approved bidding procedures for the sale of Patriot’s assets on June 23; at that time, it greenlighted Blackhawk as the “stalking horse bidder” for the assets.
“After weeks of robust discussion with Patriot and its stakeholders, we are pleased to complete this next step of the process,” Backhawk President Nick Glancy said in a statement June 25. “We are excited about the opportunity to combine Blackhawk diversified portfolio of operations with Patriot’s position as a leading supplier of premium metallurgical coals.”
