VANCOUVER (miningweekly.com) – The court-approved sale of Walter Energy Canada’s three Canadian mines to Conuma Coal Resources, a member of the ERP Group of Companies, has closed.
Conuma intends to resume mining operations at the Brule mine in the near future and may resume operations at the Wolverine and Willow Creek mines in 2017, depending on market conditions.
In December 2015, Walter Energy Canada and certain of its affiliates and partnerships obtained creditor protection in Canada under the Companies' Creditors Arrangement Act.
The sale of the company's assets was approved by order of the Supreme Court of British Columbia on August 16.
Walter Energy Canada, which is the holding company for Walter Energy's Canadian and UK operations, intends to pursue a transaction for its interests in the UK assets, which are not subject to creditor protection.
Walter Energy Canada and Walter UK were not part of the US Chapter 11 filing of Walter Energy on July 15, 2015, and were not included in the asset purchase agreement that Walter Energy entered into on November 5, 2015.