Australian iron ore miner BHP Billiton has announced that it has finalized the sale agreement for the San Juan Mine to Westmoreland Coal Company (WCC), which had initially been announced in May this year. The transaction is expected to be completed at the end of this year and WCC is expected to begin operation in January 1, 2016.
According to the company statement, the completion of this sale process will allow coal to be supplied to the San Juan Generation Station in addition to employment and a sustained revenue stream for local communities. “We will continue to work closely with our employees and the communities we serve to ensure a smooth ownership transition to WCC,” said BHP Billion New Mexico Coal President Pat Risner.