Triad owned six surface mines and one underground mine and last year generated revenues of about $US81.6 million and operating income of about $US13 million. Triad also controls about 17.4 million tons of proven and probable coal reserves.
"We believe this acquisition fits well with our strategic plan to grow our production and reserves," James River chief Peter Socha said.
“Our goal is to balance our operations between mining methods [underground and surface] and coal basins [Central Appalachia and Illinois Basin],” he said.
The acquisition has been approved by the Triad board and shareholders.
