Westmoreland Coal Co. said Tuesday that it is buying a coal mine in western Wyoming from Chevron Mining Inc. for $193 million.
Chevron has been getting out of the coal industry and the Kemmerer mine is among its last coal assets. The mine produces 4.7 million tons of coal a year.
The deal announced includes a purchase price of $179 million plus $14 million in working capital.
Westmoreland also said it is acquiring 118 million tons of coal reserves, enough for 20 years of production. The company said it expects to close the deal with Chevron by Jan. 31.