It totals more than 35,000 acres near Blairmore and Coleman.
Riversdale Resources will buy the coal properties and freehold land assets for more than $47 million.
Steve Mallyon, managing director for Riversdale, says the Crowsnest Pass is a great fit for them.
He says the municipality has helped the company engage the community and they'll start their program in about a month or so.
Mallyon says Riversdale sees the right combination of coal quality, geology, and infrastructure and more importantly they see a company which has a long history with coal and people living there who still work in the industry.
Crowsnest Pass Mayor Bruce Decoux says this will broaden the region's economic base and strengthen the local economy.
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