COLUMBUS, Ohio, April 16, 2014 /PRNewswire/ -- Oxford
Resource Partners, LP (NYSE: OXF) (the "Partnership" or "Oxford")
announced today that it has sold additional Illinois Basin assets. Cash proceeds
from the sale totaled $2 million,
thereby enhancing the Partnership's liquidity. This action is
consistent with the Partnership's strategy to focus on its
core Northern Appalachian operations where it has a fully committed
sales position for 2014, while pursuing liquidity-enhancing sales
of non-performing assets.
The sale transaction, which closed on April 11, 2014, involved Oxford's Island river
terminal and related equipment located on the Green River in
western Kentucky. In the transaction, principally for the
benefit of its remaining Illinois
Basin reserves, Oxford retained assignable rights to coal loading
throughput at the terminal facility for a period of seven years
following the closing.
About Oxford Resource Partners, LP
Oxford Resource Partners, LP is a low-cost producer of
high-value thermal coal in Northern Appalachia. Oxford
markets its coal primarily to large electric utilities with
coal-fired, base-load scrubbed power plants under long-term coal
sales contracts. The Partnership is headquartered in
Columbus, Ohio.
For more information about Oxford Resource Partners, LP (NYSE:
OXF), please visit www.OxfordResources.com. Financial and
other information about the Partnership is routinely posted on and
accessible at www.OxfordResources.com.
SOURCE Oxford Resource Partners, LP