While the financial details of the transaction were not disclosed, Walter confirmed it had successfully negotiated the lease of 75 million tons of recoverable Blue Creek coking coal in Tuscaloosa County. Royalty rates under the deal are in line with existing agreements.

Walter also acquired the state’s third-largest underground operation, the North River steam coal mine in Fayette and Tuscaloosa County, in a definitive purchase and sale agreement; it already owns the state’s two largest mines, the No. 4 and No. 7 operations.

The producer said consideration for the deal included minimal cash at closing and it would assume certain liabilities at completion.

“The transaction is expected to be neutral to slightly accretive to earnings in the first year,” Walter said Friday.

Both transactions are expected to close April 30, pending several closing conditions.

Also set to close in April is Walter’s acquisition of Western Coal, which is also subject to closing conditions and approvals.

While Walter said last year it would move its headquarters to Alabama to be nearer its operations, an official move date has not yet been announced. Western’s portfolio includes mines in West Virginia, British Columbia and Wales, UK.