Tampa, Florida-based metallurgical coal miner Walter Energy announced Monday that it has completed a transaction to lease 75 million tons of Blue Creek coking coal reserves in Tuscaloosa County, Alabama from a subsidiary of Chevron Corporation.
"We are happy with the opportunities these leases present to grow our reserve base and expand our footprint in Alabama," said Keith Calder, CEO of Walter Energy. "These reserves are an integral portion of the last remaining block of Blue Creek coal reserves and pave the way for a strategic opportunity to assemble approximately 170 million tons of high quality coking coal reserves for the development of a new underground longwall coking coal mine."