NEW YORK The sale of
mineral rights to some of the former RG Steel LLCs land
in Brooke County, W.Va., has closed, according to documents
filed in federal bankruptcy court in Delaware.
The bankrupt Sparrows Point,
Md.-based steelmaker completed the mineral rights sale Nov. 5
at a final purchase price of $2.8 million, according to a court
filing dated Jan. 2.
Oklahoma City, Okla.-based
Mineral Acquisition Co. originally offered to pay $3,000 per
acre, or a total of $1.16 million, for the mineral rights in
Brooke County (
amm.com, Oct. 3), but the final purchase price was
amended to reflect the higher value, according to court
An executive for RG Steel declined to comment and a
representative of Mineral Acquisition did not respond to a
request for comment.