Philadelphia, Pennsylvania-based metallurgical coal processor SunCoke Energy, a subsidiary of Sunoco, Inc. has purchased Honaker, Virginia-based Harold Keene Coal Co., Inc., its affiliated entities, and their related assets for approximately $40 million in cash, including working capital. Coal reserve estimates for the assets of the entities total at least 16 million net tons (nt).
The Harold Keene Coal assets acquired include two active underground mines and one active surface and high wall mine currently producing 250,000-300,000 nt of coal annually, with the potential to expand production in the future.