RICHMOND, Va. (AP) -- Massey Energy Co. said Tuesday it has completed an acquisition of 15 million tons of coal reserves in West Virginia from Appalachian Fuels LLC, which went bankrupt.

Massey said it also acquired permits needed to develop infrastructure so production can begin at the Dante Coal Reserves site in West Virginia's Barbour County.

Massey secured rights to the reserves through an auction in the bankruptcy of Kentucky-based Appalachian Fuels. The acquisition was announced last month and completed Nov. 13.

A company representative noted court documents indicate Massey paid just over $6 million for the Dante property.

Massey President Baxter Phillips Jr. said his company expects the value of the reserves "to increase significantly as conditions in the metallurgical coal market improve."

The acquisition is Massey's second from Appalachian. In September, Massey bought 23 million tons of reserves and other assets in West Virginia's Fayette County from Appalachian for $5.1 million.

Richmond, Va.-based Massey operates coal mines in West Virginia, Virginia and Kentucky.