Twentymile Mine Near Craig Sold For $358M
Routt County's Twentymile Mine is being sold to Bowie Resource Partners.
Peabody Energy says it is also selling the El Segundo and Lee Ranch mines in New Mexico, along with Twentymile, for $358 million in cash along with working capital adjustments.
According to Steamboat Today, Bowie Resource Partners will also assume about $105 million in liabilities.
The sale, prompted by a decline in customer demand, is expected to be final by the first quarter of 2016.
You want to know what is really going on these days, especially in Colorado. We can help you keep up. The Lookout is a free, daily email newsletter with news and happenings from all over Colorado. Sign up here and we will see you in the morning!