Richmond, Virginia-based James River Coal Co. announced Monday that it has completed the acquisition of International Resource Partners and its marketing subsidiary, Logan & Kanawha Coal.
In order to fund the $475 million acquisition, James River Coal used a portion of the proceeds from the recent sales of common stock and two sales of notes.
The company said the deal will expand its offerings of metallurgical coal used to make steel and increase access to export markets.
Prior to the sale, Charleston, West Virginia-based International Resource Partners operated nine underground and surface coal mines in Southern West Virginia and Eastern Kentucky, producing 1.9 million net tons of coal in 2010.
Currently, James River Coal operates mines in Kentucky and Indiana.