WYOMING COUNTY, WV (LOOTPRESS) – Eagle Summit Resources (ESR) on Friday announced the purchase of Reflectance Energy, bringing the company’s Reflectance coal mining complex under its new ownership as Eagle Mountain Energy.
The Reflectance portfolio includes active metallurgical coal-producing mines in Wyoming County, consisting of the Coal Mountain complex and adjacent mining operations.
The complex features multiple highly productive mines, a coal preparation plant, and a rail loadout, with expected production of over two million tons annually of low-cost, high-vol A, high-vol B, and semi-soft products for both domestic and export customers.
“Today’s acquisition strategically positions our company to mine across the nation’s major coal basins to serve our valued domestic and international customers with a wide variety of the highest quality American metallurgical coal and low-cost, reliable energy,” said ESR CEO Michael D. Day.
“Our expanding coal portfolio now has Powder River Basin, Illinois Basin, and Central Appalachian thermal as well as a range of metallurgical products available, allowing us to thrive during all market conditions.”
The acquisition adds to ESR’s existing portfolio, which includes the Sundial and Eagle Horizon mines in West Virginia, as well as the Eagle Butte and Belle Ayr mines in Gillette, Wyoming.
In conjunction with the acquisition, ESR entered a new term loan credit facility with Valor Mining Credit Partners, L.P., managed by Breakwall Capital LP in partnership with Vitol.
ESR and Vitol have also agreed to an exclusive marketing agreement for the company’s export coal volumes.
