This excerpt taken from the ANR DEF 14A filed Apr 6, 2007.
Solomons Mining Company
In March 2003, we consummated the U.S. AMCI acquisition pursuant to the terms of a Contribution Agreement dated December 31, 2002, as amended, among ANR Holdings, LLC, affiliates of First Reserve and selling entities affiliated with U.S. AMCI. We refer to the selling entities as the AMCI Parties. In connection with the U.S. AMCI acquisition, we acquired all of the equity interests of Solomons Mining Company (Solomons) and we agreed to operate Solomons for the account of the AMCI Parties until Solomons could be sold. We also agreed to pay the AMCI Parties $5.0 million in cash
upon the disposition of Solomons, subject to certain adjustments based on the net proceeds of any sale, the cumulative profits or operating losses of Solomons and our costs in managing Solomons. The AMCI Parties in turn agreed to indemnify us for all liabilities associated with the operation of Solomons.
On January 25, 2006, Alpha NR Holding, Inc., affiliates of First Reserve and the AMCI Parties entered into a letter agreement amending the terms of the Contribution Agreement to discharge in full the obligations of the AMCI Parties to satisfy reclamation and other claims arising in connection with Solomons in exchange for a cash payment of approximately $4.1 million by one of the AMCI Parties. We believe that the amount of this cash payment and prior amounts withheld or paid to us will be sufficient to satisfy all claims expected to arise related to Solomons.