Contura Energy

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U.S. miner Contura Energy looks to accelerate exit from thermal coal market

S&P Global Market Intelligence ($): Contura Energy Inc. is speeding up the exit of its thermal coal operations to focus on metallurgical coal as the COVID-19 pandemic continues to impact the broader coal sector. The company recorded a second-quarter net loss of $238.3 million, or a loss of $13.02 per share, down year over year […]

August 10, 2020 Read More →

Moody’s downgrades Contura Energy, warns of more problems for U.S. coal sector

S&P Global Market Intelligence ($): Moody’s Investors Service on April 13 downgraded all long-term ratings for Contura Energy Inc. The action included a downgrade of Contura’s corporate family rating from B3 to Caa1. Moody’s also downgraded Contura’s senior secured term loan rating from Caa1 to Caa2. Contura’s outlook is rated “stable.” “Contura has idled the […]

April 15, 2020 Read More →

Moody’s downgrades Contura Energy, says outlook remains negative

S&P Global Market Intelligence ($): Moody’s downgraded Contura Energy Inc.’s corporate family rating to B3 from B2 and revised its outlook on the company to negative from stable, saying it expects Contura will experience significant margin compression in 2020 as a result of decreased metallurgical coal prices and higher cash burn. The rating agency also […]

March 2, 2020 Read More →
IEEFA U.S.: Why exports won’t save American coal

IEEFA U.S.: Why exports won’t save American coal

Foreign thermal and metallurgical markets, fickle by nature, don’t account for much to begin with

Data published last week by S&P Global Market Intelligence shows U.S. coal exports fell by 28.1% in the fourth quarter of 2019 compared to the fourth quarter of 2018. That headline number was underscored by an S&P estimate that exports from the Illinois Basin (Illinois, Indiana and western Kentucky) had fallen by 58.7% year-over-year, a […]

and February 28, 2020 Read More →

U.S. coal executives grapple with rising ESG concerns, more costly access to financial markets

S&P Global Market Intelligence ($): Contura Energy Inc. executives said the U.S. coal sector is feeling the pinch of investors’ growing focus on environmental, social and governance (ESG) factors in making investment decisions. Coal producers are struggling as large financial institutions around the world are increasingly severing ties to the sector over climate change concerns. […]

February 12, 2020 Read More →

S&P: Fourth quarter results for U.S. coal sector likely to be dismal

S&P Global Market Intelligence ($): Fourth-quarter 2019 earnings reports are likely to be rough on U.S. coal producers yet again when miners begin reporting results over the next few weeks. Every major U.S. coal company is expected to report earnings per share for the period that is either worse than the prior quarter or year-ago […]

January 27, 2020 Read More →

U.S. coal companies battered by investors in 2019, leading sector index drops 53%

S&P Global Market Intelligence ($): A stock index of U.S. coal companies headed into the last full day of 2019 trading at half the level seen at the beginning of the year as unease around the future of coal counterbalanced the sector’s pivot to cleaner balance sheets and shareholder return programs. While stocks in the […]

January 2, 2020 Read More →

Contura Energy’s big bet on met coal is turning into a big bust

Bloomberg: U.S. miner Contura Energy Inc.’s $800 million bet on international coal markets is souring. In November 2018, when Contura bought Alpha Natural Resources and became America’s biggest supplier of metallurgical coal, global prices for the fuel were climbing — bolstered by demand, particularly in China. Since then, trade tensions have escalated, curbing purchases of […]

November 18, 2019 Read More →

Contura tries again to offload Powder River Basin coal assets

Casper Star Tribune: Coal company Contura Energy announced Wednesday it had reached a tentative deal with FM Coal to transfer ownership of two idling Wyoming coal mines, the latest development in a bankruptcy case that has rattled coal country for months. The agreement hinges on approval of a federal bankruptcy court and the board of […]

September 19, 2019 Read More →

Seaport Global analyst: U.S. thermal coal ‘could be a disaster zone in 2020’

S&P Global Market Intelligence ($): In the second quarter of 2019, average quarterly U.S. coal mining employment declined to the lowest level since the first quarter of Donald Trump’s presidency as production in the first half remains significantly lower than the first or second half of 2018. Average employment in the sector fell by about […]

August 30, 2019 Read More →