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Alpha Natural Resources To Acquire Coal Reserves in West Virginia |
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8:59 AM ET September 26 2005 |
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Alpha Natural Resources ((ANR)) has agreed to acquire coal reserves and operations affiliated with privately-held Nicewonder coal group in southern West Virginia and southwestern Virginia. The acquisition which has a total purchase price of $316.2 million is expected to add about 4.3 million tons to its coal output in 2006. The Appalachian coal producer warned that its third-quarter results will suffer the negative impact of a shortfall in metallurgical coal exports and lower-than-expected output from contractor-operated mines. |
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