Headwaters Buys Coal Recovery Assets

It pays $9 million.
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Headwaters (HW) bought the coal recovery assets of Eagle North America for about $9 million in cash. The South Jordan, Utah-based company is also planning to invest $2 million to upgrade the reclaiming process that has been operational since 2004.

The assets acquired consist primarily of an operating waste coal fines recovery facility and access to approximately 150 million tons of waste gob and fines material, Headwaters said in a press release. The terms of the acquisition include contracts with a major coal mining company granting Headwaters mining rights to recover coal from gob and waste pond sites.

"We are pleased with the possibilities that the ENA asset acquisition brings to Headwaters Energy Services. We view the acquisition of the coal resource as a very valuable asset," the company said.

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