JW Resources has acquire Appolo’s coal mining operations through the creation of its own subsidiary, Middlesboro Mining Inc. Its acquisition includes approximately 33,000 acres of land containing an estimated 43 million tonnes of proven and probably, high quality thermal and industrial coal reserves in the Central Appalachian coal basin.
JW Resources is a management and holding company focused on identifying, acquiring and operating coal mining and related assets in the United States, and currently operates the Straight Creek thermal coal operations in eastern Kentucky, which were acquired in February 2013. Through the combined Straight Creek and Middlesboro operations, JW Resources now controls approximately 81,000 acres containing an estimated 85 million tons of proven and probable thermal coal reserves serving the utility and industrial markets.
“We established JW Resources to acquire premier low-cost assets that are positioned to participate in the strong long-term global utility and industrial demand environment,” said Sean Ozbolt, Managing Director at Bayside Capital. “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.”