Cleveland Cliffs Inc (CLF)

[sts66]

Cliffs said in a news release that it values the transaction at $268 million based on Seneca Coal assuming “all liabilities of the business.

Values != sale price

I did a google search and could not find the actual price Clarke paid for those two mines, which is likely what you were "never able to locate payment(reconcile) of $268 million for the two coal mines sold." The assumption of all liabilities might suggest that debt exceeded the value of the assets, ergo no money actually changed hands.