Kaiser Coal has agreed to sell its New Mexico coal properties to Pittsburg & Midway Coal Mining, which is owned by Chevron. Fontana-based Kaiser Steel is the parent company of Kaiser Coal. Price of the sale was not disclosed. The offer from Pittsburg & Midway must be approved by the boards of Kaiser Steel and Kaiser Coal and by the bankruptcy court. Kaiser Steel has been operating under bankruptcy law protection since February. Kaiser Steel's coal properties in Utah and Colorado also are for sale.