Pa land company buys W.Va. coal reserves

CHARLESTON, W.Va. - Penn Virginia Resource Partners says it's bought another 10 million tons of coal reserves in West Virginia.

The Radnor, Pa.-based company says it paid $17.7 million for the reserves in northern West Virginia. Penn Virginia says the reserves are in the Pittsburgh seam, but gave no other details.

Pittsburgh seam coal is usually burned at electric power plants.

Penn Virginia says the new tonnage is located near 40 million tons of Pittsburgh seam coal that the company bought eight years ago.

Penn Virginia leases out the reserves it owns to mine operators and earns its money from royalties.