By Dennis Webb

October 16, 2018 - Bowie Resource Partners, LLC, which owns an idled coal mine outside Paonia, Colorado and active mines in Utah, said Monday it is moving its corporate headquarters from Grand Junction to Utah and changing its name.

Bowie will now be known as Wolverine Fuels, LLC, and based in Sandy, Utah. It will maintain a small regional office in Grand Junction.

"We are primarily a Utah company, employing Utah citizens and supplying coal to Utah power plants, so it only makes sense that we have our headquarters in Utah," James Grech, who was appointed the company's chief executive officer in July, said in a news release. "This move will allow the executive team to be closer to our mines, our workforce and our customers."

Bowie idled its Bowie No. 2 Mine near Paonia in 2016, citing deteriorating market conditions. It continues to operate three active mines in Utah — the Sufco, Skyline and Dugout Canyon mines. Altogether, it employs more than 950 people, producing 12 million to 14 million tons of coal a year to serve the western U.S. power generation industry and export markets.

Brian Settles, the company's general counsel, did not respond to requests for comment Monday, including about what impact the move would have on its workforce number in Grand Junction.

Grand Junction had served as only a short-term home to the company's headquarters, which previously had been in Kentucky.

"I want to thank everyone in Utah who encouraged and assisted us with this relocation, especially Governor (Gary) Herbert's office and (state) Senator David Hinkins," Grech said in the release.

In the same release, Laura Nelson, executive director of Herbert's Office of Energy Development, called the Wolverine mines "key suppliers" to coal-fired power plants in Utah. Through a spokesperson Monday, Nelson said no economic development incentives were involved in the company's move, and it was driven by the presence of its active mines in Utah.

Last year, Bowie was working on a deal under which it was to have been bought by investors including coal giant Murray Energy Corp., but the sale fell through.

Bowie — now Wolverine — is majority-owned by the Galena Private Equity Resources Fund, which is part of the international commodity trading firm Trafigura. In June, Galena increased the investment it has made in the mining company since August 2013 by $13.4 million, to about $193 million, while Bowie also said it was refinancing its revolving credit agreement to make an additional $20 million available to it.

Said Grech, "In conjunction with the recent management changes and recapitalization of the company, we wanted to offer our employees a fresh start and new identity with the name change. Our workforce is tough and resilient, very much like a wolverine, so we think our new namesake will resonate very well with our employees and the communities in which we operate."