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American Resources named primary bidder for Cambrian's Perry County Coal assets

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American Resources named primary bidder for Cambrian's Perry County Coal assets

American Resources Corp. announced that it was named the primary bidder for some of Cambrian Holding Co. Inc.'s eastern Kentucky assets.

Cambrian Coal Corp., a subsidiary of Booth Energy Group, as well as Cambrian Holding and 17 of their affiliates filed for Chapter 11 reorganization in June and plan to sell off their coal assets.

American Resources proposed to purchase all of the assets and operations under Cambrian subsidiaries Perry County Coal LLC, which runs a mining complex in eastern Kentucky near Hazard, according to a Sept. 24 company release. The complex includes three active mines with access to more than 110 million tons of carbon deposits, primarily high-quality, soft coking coal and PCI carbon that can serve the global steel and infrastructure markets. Those operations have historically produced about 1 million tons of carbon annually.

The purchase would also include the Davidson Branch preparation plant, which can process 1,300 tons of carbon per hour, as well as more than 300,000 tons of on-site carbon storage and batch weight rail loadout with access to CSX Corp.'s railroad, according to the release.

"The potential addition of Perry County Coal fits extremely well within our current platform both geographically and strategically," Chairman and CEO Mark Jensen said.

The offer is subject to bankruptcy court approval, but if authorized, American Resources would acquire the assets free and clear of all liens, claims, interests and encumbrances, assuming no liabilities other than reclamation obligations, permits or other liabilities the company agrees to, the release said.

Cambrian recently announced that Pristine Clean Energy LLC was the successful bidder for its Premier Elkhorn coal mining assets in Kentucky.