SunCoke Energy, the soon-to-be-spun-off subsidiary of Sunoco Inc., has expanded its coal reserves by buying Honaker, Va.-based Harold Keene Coal Co. Inc., for about $40 million.
The acquisition, announced today, includes two active underground mines and one active surface and high-wall mine currently producing 250,000 to 300,000 tons of coal a year. The company's reserves are estimated at 16 million tons.
SunCoke manufactures coke, a principal raw material in steel. - Andrew Maykuth