Rosebud Mining Finalizes $15M Purchase of Corsa Coal Assets

Private PA Producer Assumes Control of Acosta, Keyser, and Casselman Mines

A Pennsylvania bankruptcy court has approved the $15 million sale of key assets belonging to Corsa Coal to Rosebud Mining Company, bringing an end to weeks of uncertainty surrounding the future of the financially distressed coking coal producer.

The decision, issued by Judge Jeffrey A. Deller of the U.S. Bankruptcy Court for the Western District of Pennsylvania on March 28, clears the way for Rosebud to acquire Corsa’s Acosta and Keyser deep mines in Pennsylvania and the Casselman deep mine in Maryland. The purchase also includes Corsa’s Wilson Creek preparation plant in Cambria County and key supply contracts with U.S. Steel, Cleveland-Cliffs, and Middletown Coke Company.

Rosebud, based in Kittanning, was the only bidder for these assets during Corsa's March 12 auction. Although other parties expressed interest in specific equipment or properties, the court-approved sale gives Rosebud control over Corsa’s core mining operations. Ownership transfer is expected to be finalized between March 28 and April 4, pending final administrative steps and permitting.

The sale follows a turbulent period for Corsa. The company filed for Chapter 11 bankruptcy protection on January 6, citing millions in debt. Last week, it paused the asset sale process, brought in a liquidation firm to appraise equipment, and issued layoff notices to hundreds of workers in Somerset County. Rosebud President Jim Barker said his company is already interviewing members of the existing workforce at Acosta and Casselman, hoping to rehire staff as part of a seamless transition.

“There are a lot of good men and women working on this,” Barker told the Daily American earlier in the week. He said that while thermal coal markets have faced pressure of late, metallurgical coal prices have actually been decent relative to history. He also noted that Rosebud currently has no sales into Canada, making it less vulnerable to cross-border trade risks like tariffs.

One sticking point in the lead-up to the court’s decision was a challenge from the Pennsylvania Department of Environmental Protection, which objected to the deal on the grounds that it did not adequately transfer more than $100 million in land reclamation and water treatment obligations from Corsa to Rosebud. The court said it considered all objections before approving the sale.

With the ruling in place, Rosebud is expected to move quickly to reopen the mines once permits and other regulatory steps are finalized.

Source: Argus, WJAC, Daily American