Consol raises $101 million in coal asset sales |
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Consol Energy Inc. sold its stake in two smaller coal operations for a combined $101 million.

The Cecil-based company said Tuesday it sold its 49 percent stake in Western Allegheny Energy to joint venture partner Rosebud Mining of Kittanning. That venture operates mines in Armstrong and Indiana counties. Consol also sold 6.7 million tons of lignite reserves in South Texas to an unnamed buyer.

Consol has been looking to sell assets as it copes with low coal and natural gas prices that prompted budget cuts and layoffs this year. The company said it planned to use money from these sales to reduce its debt.

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