The operator, which joined the coal mining community in 2003, anticipated a mid-October closure on its 100% $US55 million buyout, a delay over the third-quarter target it set earlier this year.
The date amendment is due to market issues, National Coal president Daniel Roling said.
"The debt market experienced serious dislocations over the summer as we were arranging our financing," Roling said.
"That turmoil slowed down the process significantly and delayed us from the third-quarter close we had originally anticipated; it is as simple as that. As a result, additional time is necessary for our financiers to complete their ongoing due diligence process."
He added that the producer's expectations for the transaction have not changed.
Mann Steel vice-president William Mann concurred: "We are working with National Coal to complete this transaction in conjunction with normal due diligence practices and are moving forward with that in mind."
A number of conditions are linked to the potential financing of the deal, so National Coal noted that "there can be no assurance that the acquisition will be completed".
NCC, with a staff of more than 230, holds mines in southeastern Kentucky as well as eastern Tennessee. Mann Steel currently has approximately 100 workers.
