Two Wyoming coal mines that have been embroiled in the bankruptcy of Blackjewel LLC are expected to resume full production, and workers owed back pay will be compensated, after a deal to sell the mines closed, WSJ Pro Bankruptcy reported. Blackjewel said Monday the sale of its Eagle Butte and Belle Ayr mines to a new owner, Eagle Specialty Materials LLC, closed on Oct. 18. The sale will bring the mines back to full production and provide funds to pay wages owed to Blackjewel workers since the company filed for chapter 11 on July 1. Contura Energy Inc., a prior owner of the two mines, also said Monday that the deal to ESM had closed. As part of the transaction, Contura said that it made an $81.3 million cash payment to ESM and conveyed its interest in two ranches to the buyer. Contura said that it also agreed to make a second payment of $8.7 million within 15 business days into an escrow account in connection to certain royalty claims tied to the mines.
