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XCoal Energy buys international coal, coke trading division of German company

XCoal Energy & Resources Germany GmbH acquired the international coal and coke trading division of German company RAG Verkauf GmbH as the European country continues its move away from coal.

The privately owned unit of U.S.-based global coal marketing and logistics company XCoal Energy & Resources LLC completed the deal Aug. 1. It plans to continue and further expand trading in metallurgical and thermal coals as well as blast furnace and foundry coke in Europe with the former team of RAG Verkauf, according to an Aug. 8 news release.

RAG Verkauf is shutting down its two remaining mines, the Prosper-Haniel and Anthrazit Ibbenbüren, both of which are set to close by the end of 2018.