02 July 2015
BHP Billiton New Mexico Coal has announced that the sale agreement for the San Juan Mine to Westmoreland Coal Company (WCC), initially announced in May, has been executed. The transaction is expected to be completed at the end of the calendar year, with WCC assuming full operation of the San Juan Mine from January 1, 2016. BHP Billiton New Mexico Coal will work with WCC for the remainder of 2015 to ensure a smooth ownership transition.
The completion of this sale process, which will allow coal to be supplied to the San Juan Generating Station (SJGS) beyond 2017, is conditional on the Public Service Company of New Mexico (PNM) securing necessary approvals from the New Mexico Public Regulatory Commission (NMPRC).
BHP Billiton New Mexico Coal President Pat Risner said he was pleased that the agreement BHP Billiton had reached with WCC would ensure the continuation of operations at the San Juan Mine, providing jobs and a sustained revenue stream for local communities.
“We will continue to work closely with our employees and the communities we serve to ensure a smooth ownership transition to WCC,” Mr. Risner said.
As part of an ongoing NMPRC review of SJGS, the agreement will be filed with the NMPRC as part of a comprehensive filing to be made on 1 July by PNM.