While Patriot is a relatively new company, some of our mining complexes have been operating for more than 40 years. We currently operate twelve active mining complexes and control 1.8 billion tons of proven and probable coal reserves.
- On December 31, 2005, Arch Coal sold certain Central Appalachian mining operations and coal reserves to Magnum Coal Company. Read more.
- On October 31, 2007, Patriot Coal was spun off from Peabody Energy. As a result of the spin-off, Patriot Coal became a separate, public company, listed on the New York Stock Exchange. At the time of the spin-off, Patriot was a leading producer of coal in the eastern U.S., with eight mining complexes in Appalachia and the Illinois Basin and control of 1.3 billion tons of proven and probable coal reserves. Read more. Read Peabody Energy's press release.
- On November 30, 2007, Patriot acquired the remaining minority interest in KE Ventures, LLC, resulting in Patriot owning 100 percent of the Kanawha Eagle mining complex.
- On July 23, 2008, Patriot Coal acquired Magnum Coal Company, one of the largest coal producers in Appalachia, operating eight mining complexes with production from surface and underground mines controlling more than 600 million tons of proven and probable coal reserves. Magnum’s balance sheet included substantial assets and liabilities previously acquired from Arch Coal, Inc. Read more.
- No acquisition activity
- In March 2012, Patriot acquired Coventry Mining Services, LLC, and its subsidiaries, which employs the workforce for its Kanawha Eagle complex.
- On July 9, 2012, Patriot filed for reorganization under Chapter 11 of the Bankruptcy Code in order to ensure the Company’s future viability. Read more.
- In December 2012, Patriot acquired Brody Mining LLC, which employs the workforce for certain mines in the Wells complex.