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US: Feds clear $3.5B coalmine sale to Murray Energy

 |  December 2, 2013

Consol Energy Inc. has reportedly received regulatory clearance to sell coal mining operations to competitor Murray Energy in a deal worth $3.5 billion.

Consol, which specializes in natural gas and mining, received the approval Monday. The divestiture seeks Consol’s Consolidation Coal Co. sold to Murray.

The parties first announced the deal, which includes five coalmines, river barges and towboats, late last October.

Reports say the sale is equivalent to about half of Consol’s yearly coal production, though the company plans to continue mining coal after the sale s complete.

Full Content: TribLive

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