Affiliate of Merida Natural Resources, LLC Submits Irrevocable Bid to Acquire Kemmerer Mine out of Bankruptcy
February 14, 2019
KEMMERER, Wyo.–(BUSINESS WIRE)–Merida Natural Resources, LLC (“Merida”), a privately held company,
announced its affiliate, Western Coal Acquisition Partners, LLC has
submitted a $215 million irrevocable bid to acquire the Kemmerer coal
mine, located in Lincoln County, Wyoming, and owned by Westmoreland
Resource Partners, LP. The offer was submitted pursuant to the Bidding
Procedures established by an Order of the United States Bankruptcy Court
for the Southern District of Texas.
The bankruptcy court Sale Hearing for the sale of Kemmerer is scheduled
on February 28, 2019, and if the successful bidder, Merida expects to
close the purchase shortly thereafter. If acquired, Kemmerer will play a
leading role as Merida’s western “Flagship” mine, as Merida continues
its expansion throughout the western coal basins. Merida Chief Executive
Officer, Tom Clarke, commented, “We are grateful to be a part of the
process to sell the historical Kemmerer mine and, if we are the
successful bidder, look forward to working with the employees,
customers, and community in building a strong and stable future for
Kemmerer.”
About Merida Natural Resources, LLC
Merida is owned by Tom and Ana Clarke and is affiliated with Clarke
Investments, LLC, which operates investments in the mining, metals,
energy, offshore construction and decommissioning, recycling, and
insurance sectors. Ana Clarke was the largest shareholder of
Westmoreland Coal Company common equity at the time of its bankruptcy
filing.
Merida currently has minority and controlling investments in five
thermal and metallurgical coal mines in Canada and the United States,
producing 4.2 million tons annually. The Kemmerer mine is over 130 years
old, commencing open pit mining in 1950. At one time Kemmerer was the
largest open pit thermal coal mine in the world having produced over 200
million tons since opening. Kemmerer produced 4.0 million tons of coal
in 2018 and currently employees 288 people.
Contacts
Clarke Investments, LLC
Tom Clarke, 540-595-3908