Officials said that the transaction, which closed on April 11, included its Island River terminal and related equipment located on the Green River in western Kentucky.
Under the deal’s terms, principally for the benefit of its remaining Illinois Basin reserves, Oxford has retained assignable rights to coal loading throughput at the terminal facility for a period of seven years following closing.
Oxford officials said that the sale will enhance its liquidity, and that the move was consistent with its strategy to focus on its core Northern Appalachian operations —where it is fully committed for sales in 2014 — while pursuing “liquidity enhancing” sales of non-performing assets.
Oxford Resource Partners, based in Columbus, primarily markets to large electric utilities.
