National Coal Cancels Surface Mine Acquisition

Charleston, W.Va. (AP) -- National Coal Corporation of Knoxville has canceled plans to acquire an unidentified West Virginia surface mine because it could not agree with the seller on the assets' value.

National Coal had announced the deal in November. At the time, the company said it planned to buy the mine for about $60 million plus debt.

National employs some 250 people and produces steam coal for power plants from five mines in Tennessee and three mines in Kentucky.

Copyright 2007 by the Associated Press. All rights reserved.


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