CPE Back in the Black

Despite a year-on-year drop in coal shipments, Cloud Peak Energy (CPE), which operates exclusively in Wyoming’s Powder River Basin, reported a respectable $35.3 million net income for the quarter. For the period ended June 30, the company reported total revenue of $174.2 million with 11.9 million tons sold. That is compared to $244.1 million in revenue and 16 million tons sold for the comparable 2015 quarter.

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CONSOL Energy Pays to Exit CAPP

CONSOL Energy will pay Booth Energy a total of $44 million to take over its Miller Creek mining complex and Fola Mining complex subsidiaries in West Virginia. The Miller Creek complex has an active surface mining operation and prep plant, which produced 2.1 million tons in 2015, according to the Mine Safety and Health Administration (MSHA), and two underground mines, which are listed as temporarily idle. The Fola Mining complex is a closed surface mining operation with two idled processing facilities.

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Contura Completes Acquisition, Alpha Names Stetson CEO

Contura Energy completed the previously announced acquisition of several core assets from Alpha Natural Resources (ANR), which was a key step for Alpha to emerge from Chapter 11 bankruptcy. Contura will be a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. It also purchased Alpha’s interest in the Dominion Terminal Associates coal export terminal in eastern Virginia.

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Foxleigh Mine Sale Completed

After seeking a buyer for more than a year, Anglo American has completed its sale of its interest in the Foxleigh complex in the Bowen Basin region of Queensland, Australia, to a group led by Taurus Fund Management. The deal with the consortium was first inked as a sale and purchase agreement in early April. No financial or other related details were released.

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