This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Alliance Resource Partners, L.P. Announces Agreement To Acquire Illinois Basin Coal Assets

Alliance Resource Partners, L.P. (NASDAQ: ARLP) today announced that Alliance Coal, LLC (“Alliance Coal”), its wholly-owned subsidiary, has entered into a definitive agreement with Green River Collieries, LLC (“Green River”) to acquire substantially all of its coal-related assets located in Webster and Hopkins Counties, Kentucky. The transaction includes the Onton No. 9 mining complex and an estimated 40.0 million tons of coal reserves in the West Kentucky No. 9 coal seam.

ARLP currently anticipates consummation of the proposed transaction following the completion by Green River of certain closing requirements.

“Strategically the acquisition of Green River further expands our presence and enhances ARLP’s existing operating platform in the growing Illinois Basin coal market,” said Joseph W. Craft III, President and Chief Executive Officer. “The Onton No. 9 mine is an attractive addition to our current operations in western Kentucky and provides ARLP with increased flexibility to service our existing customer base. We look forward to welcoming Green River’s employees and management to the Alliance team.”

The Onton No. 9 mine is an underground mining complex which uses three continuous mining units employing room-and-pillar mining techniques. The mine currently produces annually an estimated 2.1 million tons of coal and employs approximately 315 workers. Green River is in the process of completing an air shaft which would allow the addition of a fourth continuous mining unit should market conditions warrant increased production from the mine. Essentially all of the planned 2012 production from the mine is committed and priced under Green River contracts with existing ARLP customers.

This announcement is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b), with 100% of the partnership’s distributions to foreign investors attributable to income that is effectively connected with a United States trade or business. Accordingly, ARLP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable tax rate.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs