Richmond, Virginia, US-based metallurgical coal producer Massey Energy Company has stated that media reports indicating that Massey is preparing the company for sale are untrue.
"Massey does continue to have discussions with several entities regarding various asset sales and/or joint venture opportunities that it feels will bring value to the shareholders," the company said, recalling that it had signed a memorandum of understanding with India-based Jindal Steel & Power Limited (JSPL) in January to work together in overseas coal projects.
Local media reports have commented that Massey is considered by some analysts to have attractive assets, which are even more marketable at a stock value estimated to have dropped 41 percent after the Upper Big Branch Mine disaster killed 29 coal miners last month, making the country's sixth largest coal miner a potential takeover target.