38:
235:
to become
America's biggest supplier of metallurgical coal. Even though the combination let Alpha Natural Resources emerge from bankruptcy, the first year was a difficult one; lower coal prices, and higher production costs at mines where it makes the type of coal burned at power plants. The company's
243:
According to ANR CEO Stetson, Contura's takeover offer gave Alpha "access to the ports in eastern
Virginia they have expertise and knowledge in the international market that we don’t currently have in-house and a strong balance sheet and great liquidity. Contura is an invaluable tool and resource to
256:
for US$ 7.1 billion, completed in June 2011, creating the second biggest coal miner by market capitalization. The merged company (54% owned by Alpha
Natural Resources) would be the leading producer of metallurgical coal in the US and have the second largest reserves of coal (5.1 billion tons).
257:
Merging operations with Massey is estimated to reduce combined operating costs by $ 150 million. 7,000 of the 14,000 employees are in West
Virginia. In 2010, demand for thermal coal rose while metallurgical coal demand was flat; it made up only 14% of coal sales, down from 17% in 2009.
222:
Contura Energy began operations on July 26, 2016, through the purchase of Alpha assets by a consortium lenders. It held nine underground and four surface mines in
Virginia, West Virginia, Pennsylvania and Wyoming's Powder River Basin. 1.4 billion tons of reserves, 80% thermal coal.
239:
Alpha reorganized under federal
Chapter 11 bankruptcy in July 2017 by splitting into private firms after selling off many assets. Collectively, they produced a combined 50-60 million tons of coal in 2017 — much less than the once publicly traded firm produced (over 5 billion).
264:
that killed 29 employees. Direct costs related to the incident amounted to $ 128.9 million. Federal regulators and the Mine Safety and Health
Administration blamed the explosion on Massey's poor practices; however, the company contested the findings, citing a
194:, formerly Contura Energy (January 2021), is a leading coal supplier with underground and surface coal mining complexes across Northern and Central Appalachia. Contura owns large coal basins in Pennsylvania, Virginia and West Virginia which supply both
236:
valuation fell nearly 90% from the time of the merger until the end of 2019. Even before the COVID-19 crisis broke, on
February 10, 2020, reported lower revenues, lower shipment guidance, and much lower margins for met coal (70% of revenue).
201:
The volatile nature of the coal mining sector in the US bankrupted predecessor Alpha
Natural Resources in 2015, seven years removed from Alpha's $ 7.1 billion takeover of Massey Energy. The majority of its workers are non-unionized.
424:
489:
499:
431:
313:
479:
494:
358:
484:
261:
379:
260:
Massey Energy had become a takeover target after suffering large income losses and negative publicity following an
334:
232:
101:
68:
403:
162:
206:
195:
132:
119:
205:
In 2011 Alpha was
America's third largest and world's fifth largest coal producer. In the 2012
145:
209:, Alpha Natural Resources was ranked as the 1847th -largest public company in the world.
473:
253:
62:
456:
266:
37:
76:
17:
72:
91:
252:
On January 31, 2011, Alpha Natural Resources acquired coal producer
285:
87:
180:
359:"U.S. Coal Giant Is 'Unglued' as $ 800 Million Takeover Sours"
404:"Alpha agrees to buy Massey Energy for about $ 7.1 billion"
380:"Contura Energy crunched on lower shipments forecast"
198:
to produce steel and thermal coal to generate power.
490:
Non-renewable resource companies established in 2016
457:"Massey Energy Rejects Federal Blame in Mine Blast"
175:
161:
151:
141:
126:
115:
107:
97:
83:
60:
52:
44:
262:explosion at West Virginia's Upper Big Branch mine
227:Alpha Natural Resources emergence from bankruptcy
500:Companies listed on the New York Stock Exchange
8:
419:
417:
314:"Alpha, Contura sounding an optimistic note"
30:
29:
308:
306:
304:
302:
398:
396:
353:
351:
277:
231:In November 2018, Contura merged with
7:
480:Coal companies of the United States
31:Alpha Metallurgical Resources, Inc.
167:Dominion Terminal Associates (41%)
25:
286:"Contura Energy Company Profile"
36:
495:2016 establishments in Virginia
248:2011, Massey Energy acquisition
455:Broder, John M. (2011-01-28).
1:
192:Alpha Metallurgical Resources
430:. 2011-01-31. Archived from
485:Companies based in Virginia
516:
35:
233:Alpha Natural Resources
102:Alpha Natural Resources
27:American coal supplier
146:Coking and steam coal
335:"Forbes Global 2000"
48:Contura Energy, Inc.
153:Number of employees
32:
461:The New York Times
244:Alpha’s success.”
207:Forbes Global 2000
196:metallurgical coal
120:Bristol, Tennessee
189:
188:
181:alphametresources
16:(Redirected from
507:
465:
464:
452:
446:
445:
443:
442:
436:
429:
425:"Alpha + Massey"
421:
412:
411:
400:
391:
390:
388:
386:
376:
370:
369:
367:
365:
355:
346:
345:
343:
341:
331:
325:
324:
322:
320:
310:
297:
296:
294:
292:
282:
185:
182:
137:
40:
33:
21:
515:
514:
510:
509:
508:
506:
505:
504:
470:
469:
468:
454:
453:
449:
440:
438:
434:
427:
423:
422:
415:
402:
401:
394:
384:
382:
378:
377:
373:
363:
361:
357:
356:
349:
339:
337:
333:
332:
328:
318:
316:
312:
311:
300:
290:
288:
284:
283:
279:
275:
250:
229:
220:
215:
179:
170:
168:
154:
136:(CEO, Chairman)
135:
129:
75:
65:
28:
23:
22:
15:
12:
11:
5:
513:
511:
503:
502:
497:
492:
487:
482:
472:
471:
467:
466:
447:
413:
392:
371:
347:
326:
298:
276:
274:
271:
249:
246:
228:
225:
219:
218:Contura Energy
216:
214:
211:
187:
186:
177:
173:
172:
169:Alpha Holdings
165:
159:
158:
155:
152:
149:
148:
143:
139:
138:
130:
127:
124:
123:
117:
113:
112:
109:
105:
104:
99:
95:
94:
85:
81:
80:
66:
61:
58:
57:
56:Public company
54:
50:
49:
46:
42:
41:
26:
24:
18:Contura Energy
14:
13:
10:
9:
6:
4:
3:
2:
512:
501:
498:
496:
493:
491:
488:
486:
483:
481:
478:
477:
475:
462:
458:
451:
448:
437:on 2011-07-16
433:
426:
420:
418:
414:
410:. 2011-01-31.
409:
405:
399:
397:
393:
381:
375:
372:
360:
354:
352:
348:
336:
330:
327:
315:
309:
307:
305:
303:
299:
287:
281:
278:
272:
270:
268:
263:
258:
255:
254:Massey Energy
247:
245:
241:
237:
234:
226:
224:
217:
212:
210:
208:
203:
199:
197:
193:
184:
178:
174:
166:
164:
160:
156:
150:
147:
144:
140:
134:
131:
125:
121:
118:
114:
111:July 26, 2016
110:
106:
103:
100:
96:
93:
89:
86:
82:
78:
74:
70:
67:
64:
59:
55:
51:
47:
43:
39:
34:
19:
460:
450:
439:. Retrieved
432:the original
407:
385:February 10,
383:. Retrieved
374:
362:. Retrieved
338:. Retrieved
329:
317:. Retrieved
289:. Retrieved
280:
267:methane leak
259:
251:
242:
238:
230:
221:
204:
200:
191:
190:
116:Headquarters
53:Company type
319:January 21,
133:Andy Eidson
98:Predecessor
77:S&P 600
474:Categories
441:2011-02-21
340:31 October
273:References
128:Key people
163:Divisions
79:component
63:Traded as
364:April 2,
291:April 2,
171:ANR Inc.
142:Products
84:Industry
45:Formerly
408:Reuters
213:History
176:Website
108:Founded
71::
122:, U.S.
92:mining
88:Metals
435:(PDF)
428:(PDF)
157:2,300
387:2020
366:2020
342:2020
321:2017
293:2020
183:.com
90:and
69:NYSE
73:AMR
476::
459:.
416:^
406:.
395:^
350:^
301:^
269:.
463:.
444:.
389:.
368:.
344:.
323:.
295:.
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
