The Murray Energy Corporation has announced that it has entered into an agreement to purchase the stock of CONSOL Energy, Inc. This includes the McElroy, Shoemaker, Blacksville, Loveridge, and Robinson Run mines in West Virginia.
The purchase includes certain coal reserves, related river transportation and dock facilities, and other assets.
In a press release issued on Monday morning, Robert E. Murray, Chairman, President, and Chief Executive Officer of Murray Energy, said, "no company has developed a better legacy with its employees, with its customers, with the financial markets, with the regulatory agencies, or with the public in general, over many decades, than has CONSOL and Consolidation Coal. Murray Energy intends to preserve this well-earned legacy."
Robert Moore, Executive Vice President, Chief Operating Officer, and Chief Financial Officer of Murray Energy, continued, "we will be able to efficiently operate the acquired Consolidation Coal mines and provide their employees with an opportunity for long term employment."
Murray Energy currently operates six underground longwall mining systems and 23 continuous mining units.
The United Mine Workers of America President said Monday's announcement came as "no great surprise," and said, "This changes nothing for our members with respect to the terms and conditions of their employment. Our collective bargaining agreement does not go away with this transaction, and our members remain covered by its provisions. There will be no changes in pay, benefits, insurance, schedules, working conditions, safety provisions, grievance procedures or any other language in the contract."
There are some 2,800 active hourly workers represented by the UMWA at the five West Virginia operations that have been sold to Murray Energy.