DOCSLIB.ORG

Company Overview

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Company Overview Company Overview October 2016 Introduction Contura Energy: Who We Are About Us Contura Energy is a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. With customers across the globe, high-quality reserves, and significant port capacity, Contura Energy reliably supplies both metallurgical coal to the steel industry and thermal coal to generate power. • Formed in July 2016 through the purchase of certain core coal assets by a consortium of lenders as a part of Alpha Natural Resources’ Chapter 11 Bankruptcy restructuring. • Began operation as Contura Energy, Inc. on July 26, 2016. • Comprised of a diversified production profile, including a range of high-quality metallurgical coal products and significant steam coal tonnage, across Central Appalachia (CAPP), Northern Appalachia (NAPP), and the Powder River Basin (PRB). • Controls approximately 1.38 billion NT of reserves. • Owns majority stake in the world-class Dominion Terminal Associates (DTA) coal export terminal located in Newport News, Virginia, with an annual capacity of 22 million tons. • Committed to the safety and health of our approximately 2,200 affiliated employees, efficient mining operations, and responsible environmental stewardship. For more information, visit: www.conturaenergy.com 3 Management Team Kevin S. Crutchfield, Chief Executive Officer & Member, Board of Directors Kevin S. Crutchfield has served as Contura’s chief executive officer since July 2016. He also serves on Contura’s Board of Directors. Previously, he served as chairman and chief executive officer of Alpha Natural Resources, Inc. Prior roles include various operating and executive management positions at El Paso Corporation, Coastal Coal Company, AMVEST Corporation, AEI Resources, Inc., Cyprus Australia Coal Company, Cyprus Coal Company, and Pittston Coal Company. Gary W. Banbury, Executive Vice President & Chief Administrative Officer Gary W. Banbury has served as Contura’s executive vice president and chief administrative officer since July 2016. He previously served as executive vice president and chief administrative officer of Alpha Natural Resources, Inc., a position he held from July 2013. Prior roles include executive management positions at Allied Nevada Gold Corp., RJ Human Capital Services, and Coeur d’Alene Mines Corporation. Andy Eidson, Executive Vice President & Chief Financial Officer Andy Eidson has served as executive vice president and chief financial officer of Contura since July 2016. He previously served as executive vice president and chief financial officer of Alpha Natural Resources, Inc., a position he held from March 2016. Prior roles include various financial positions across industry sectors, including at Penn Virginia Resource Partners, Eastman Chemical Company, and PricewaterhouseCoopers LLP. 4 Management Team (continued) Keith Hainer, Executive Vice President & Chief Operating Officer Keith Hainer has served as executive vice president and chief operating officer of Contura since July 2016. He previously served as executive vice president, mining operations for Alpha Natural Resources, Inc., a position he held from January 2015. Prior roles include various operation leadership positions at Alpha, Massey Energy, and Shell Mining. Bruce Hartshorn, Executive Vice President – Sales and Marketing Bruce Hartshorn has served as Contura’s executive vice president, sales and marketing since July 2016. He previously served as senior vice president, sales and marketing for Alpha Natural Resources, Inc., a position he held from August 2015. Prior roles include various sales, management, and engineering positions at Pittston Coal Company and North American Coal Company. Mark Manno, Executive Vice President, General Counsel, Secretary, & Chief Procurement Officer Mark Manno has served as executive vice president, general counsel, secretary and chief procurement officer of Contura since July 2016. He previously served in the same role for Alpha Natural Resources, Inc., positions he held from December 2015. Prior roles include various information technology and sourcing roles at Alpha; executive leadership roles with SJ Strategic Investments; multiple roles with King Pharmaceuticals, Inc.; and as an attorney with Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Before joining the private sector, Mr. Manno was an officer in the US Navy. 5 Safety and Stewardship Operating safely, ethically, and responsibly are more than just priorities for Contura Energy and its affiliates. They are ingrained in everything we do. • Contura affiliate operations have received numerous safety and environmental awards at the state, regional, and national levels. • We believe every employee must have a voice in the safety process and proactively involve hourly and salaried workers alike in the observation, review, and decision-making of potential safety improvements. • Our operations have partnered with manufacturers and regulators to test the latest in mine safety technologies within active mining environments. • We also partner with local communities and non-governmental organizations to ensure appropriate and sustainable post-mining reclamation practices. • We operate the Running Right Leadership Academy, a first of its kind, state-of-the-art comprehensive education and training facility for mine safety and operations located in Julian, West Virginia. • To help enforce our own safety practices, Contura also participates in the National Mining Association’s CORESafety program (www.coresafety.org). 6 Asset Overview Our Affiliated Operations Operational Footprint Contura Energy affiliates operate both underground and surface coal mining complexes across Northern Appalachia, Central Appalachia, and the Powder River Basin. Central Appalachia (VA, WV) Cabin Ridge – Surface (VA) Deep Mine #26 – Underground (VA) Deep Mine 41 – Underground (VA) 88 Strip – Surface (VA) Deep Mine #25* – Underground (VA) Bear Ridge Upper Banner* – Underground (VA) Deep Mine 37* – Underground (VA) Deep Mine 44* – Underground (VA) Reedy Ridge* – Underground (VA) Jerry Fork Eagle – Underground (WV) Northern Appalachia (PA) Cumberland – Underground Powder River Basin (WY) Belle Ayr – Surface Eagle Butte – Surface *Contract Mine 8 Central Appalachia (CAPP) Chesapeake Bay Pier Key Contura Complex MD Export Terminal WV Nicholas VA Pier VI DTA Lamberts Point McClure Toms Creek Note: Map not to scale. 9 CAPP – McClure Complex Complex Description Reserves and Tons Sold Profile • McClure is an underground metallurgical coal mining complex in Dickenson County, Virginia • McClure controls 105.4 million tons of proven and probable reserves (52% permitted) • Produces a diversified product mix of Mid Vol. and High Vol. A metallurgical coal which is 100% 100% shipped to domestic and foreign steel producers Met via the CSX railroad Total Reserves: 105.4 million tons 2015 Sales: 2.1 million tons • Operations are comprised of 4 active underground mines, and 1 active preparation Historical Tons Sold 1.9 2.1 plant (950 tons per hour) 1.7 • Approximately 386 highly-skilled employees, 1.5 with the preparation plant employees being 2.1 represented by the United Mine Workers of 1.9 America (UMWA) 1.7 1.5 0.03 2013A 2014A 2015A 2016 YTD (Q3) Met Thermal 10 CAPP – Toms Creek Complex Complex Description Reserves and Tons Sold Profile • Toms Creek is a surface and underground 7% metallurgical coal mining complex in Wise 37% County, VA • Toms Creek controls 13.8 million tons of proven 63% and probable reserves (52% permitted) • Produces a variety of products including High 93% Vol. A, High Vol. B, metallurgical coal as well as Met Thermal Midds and thermal coal which is shipped to both Total Reserves: 13.8 million tons 2015 Sales: 1.4 million tons domestic and foreign steel producers and utility customers via the NS railroad Historical Tons Sold • Operations are comprised of 2 active 2.3 1.6 underground mines, 4 active surface mines and 1.4 1.7 1 preparation plant (900 tons per hour) • Approximately 240 highly-skilled, union-free 1.5 .8 employees 1.3 0.7 0.6 0.1 0.1 0.06 2013A 2014A 2015A 2016 YTD (Q3) Met Thermal 11 CAPP – Nicholas Complex Complex Description Reserves and Tons Sold Profile • Nicholas is an underground metallurgical coal mining complex in Nicholas County, West Virginia • Nicholas controls 55 million tons of proven and probable reserves (38% permitted) • Produces High Vol. B metallurgical coal which is 100% 100% shipped to both domestic and foreign steel Met producers via the NS railroad Total Reserves: 55 million tons 2015 Sales: 0.6 million tons • Operations are comprised of 1 active underground mine, and 1 preparation plant Historical Tons Sold (1,100 tons per hour) 0.7 0.6 0.5 0.5 • Approximately 125 highly-skilled employees with 0.4 the preparation plant employees being represented by the United Mine Workers of 0.6 America (UMWA) 0.5 0.5 0.3 2013A 2014A 2015A 2016 YTD (Q3) Met Thermal 12 Northern Appalachia (NAPP) Key Contura Complex Export Terminal PA PA Services Chesapeake Bay Pier MD WV VA Pier VI DTA Lamberts Point Note: Map not to scale. 13 NAPP – PA Services (Cumberland) Complex Complex Description Reserves and Tons Sold Profile • NAPP operations include the Cumberland underground 7% 4% mining complex (PA Services) • Cumberland operations are located in Greene County, PA • NAPP operations control 589 million tons of proven and probable coal reserves (7% permitted) • Produces high quality, internationally recognizable 93%
Load more

Recommended publications
  • Alpha Coal Handbook 2
    201 2 2 Alpha Coal Handbook Alpha Coal Handbook A reference guide for coal, ironmaking, electricity generation, and emissions control technologies. 2012 Edition Forward-Looking Statements Statements in this document which are not statements of historical fact are “forward-looking statements” within the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future per- formance. Many factors could cause our actual results, performance or achievements, or industry results to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Who Is Alpha? These factors are discussed in detail in our filings with the SEC. We make forward-looking statements based on currently available information, and we assume no obligation to update the statements made herein due to changes in underlying Alpha Natural Resources is one of the world’s premier coal suppliers factors, new information, future developments, or otherwise, except as required by law. with coal production capacity of greater than 120 million tons a Third Party Information This document, including certain forward-looking statements herein, includes information obtained from third party year. Alpha is the United States’ leading supplier of metallurgical sources that we believe to be reliable. However, we have not independently verified this third party information and cannot coal used in the steelmaking process and third-largest in the world. assure you of its accuracy or completeness. While we are not aware of any misstatements regarding any third party data contained in this document, such data involve risks and uncertainties and are subject to change based on various factors, Alpha is also a major supplier of thermal coal to electric utilities including those discussed in detail in our filings with the SEC.
    [Show full text]
  • Alpha Complaint
    Case 2:14-cv-11609 Document 1 Filed 03/05/14 Page 1 of 32 PageID #: 1 IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF WEST VIRGINIA CHARLESTON DIVISION UNITED STATES OF AMERICA; the STATE OF WEST ) VIRGINIA by and through the WEST VIRGINIA ) DEPARTMENT OF ENVIRONMENTAL PROTECTION; the ) PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL ) PROTECTION; and the COMMONWEALTH OF ) KENTUCKY by and through the KENTUCKY ENERGY ) AND ENVIRONMENT CABINET ) ) Plaintiffs, ) ) v. ) ) Civil Action No. ________2:14-11609 ALPHA NATURAL RESOURCES, INC.; ALPHA ) APPALACHIA HOLDINGS, INC.; ALEX ENERGY, INC.; ) ALPHA PA COAL TERMINAL, LLC; AMFIRE MINING ) COMPANY, LLC; ARACOMA COAL CO., INC.; ) COMPLAINT BANDMILL COAL CORP.; BELFRY COAL CORP.; BIG ) BEAR MINING CO.; BROOKS RUN MINING COMPANY, ) LLC; BROOKS RUN SOUTH MINING LLC; CLEAR FORK ) COAL CO.; CUMBERLAND COAL RESOURCES, LP; ) DELBARTON MINING CO.; DICKENSON-RUSSELL ) COAL COMPANY, LLC; DUCHESS COAL CO.; EAGLE ) ENERGY, INC.; ELK RUN COAL CO., INC.; EMERALD ) COAL RESOURCES, LP; ENTERPRISE MINING ) COMPANY, LLC; GOALS COAL CO.; GREYEAGLE ) COAL CO.; HARLAN RECLAMATION SERVICES LLC; ) HERNDON PROCESSING CO., LLC; HIGHLAND MINING ) CO.; INDEPENDENCE COAL COMPANY, INC.; JACKS ) BRANCH COAL CO.; KANAWHA ENERGY CO.; KEPLER ) PROCESSING CO., LLC; KINGSTON MINING, INC.; ) KINGWOOD MINING CO., LLC; KNOX CREEK COAL ) CORP.; LITWAR PROCESSING CO., LLC; MARFORK ) COAL CO.; MARTIN COUNTY COAL CORP.; NEW ) RIDGE MINING CO.; OMAR MINING CO.; PARAMONT ) COAL COMPANY VIRGINIA, LLC; PAYNTER BRANCH ) MINING,
    [Show full text]
  • Alpha Natural Resources United States
    Alpha Natural Resources United States Sectors: Coal Mining On record This profile is no longer actively maintained, with the information now possibly out of date Send feedback on this profile By: BankTrack Created before Nov 2016 Last update: Jul 4 2016 Sectors Coal Mining Headquarters Ownership Alpha was formed in 2002 and went public in February 2005, trading on the New York Stock Exchange under the symbol "ANR". Subsidiaries Website http://www.alphanr.com/ About Alpha Natural Resources Alpha Natural Resources is a large American producer of metallurgical and thermal coal. It also provides services relating to equipment repairs, road construction and logistics (terminals). It does not produce all of the coal it sells, some is purchased and resold. Alpha operates in Virginia, West Virginia, Kentucky, Wyoming, Utah, Illinois, Tennessee and Pennsylvania. Clients include electricity producers and steel manufacturers. Metallurgical coal is used industrially while thermal is the form of coal used to generate power. In 2014 it had 60 mines in active operation. In 2014 the company shipped a total of 84.6 million tonnes of coal, of which 17.6 million tonnes were exported. In April 2014, Alpha had a Market Capitalization of USD977.1 million, a 12 month total equity return of -39.5% and a B Credit rating at Standard & Poor's. Alpha has suffered four years of losses, has laid off 4,000 workers and closed all but 50 mines. Due to its "abnormally low" stock price ANR was delisted from the NYSE on July 16, 2015. With debts of USD three billion dating from its acquisition of Massey Energy for USD7.1 billion in 2011, the firm filed for Chapter 11 bankruptcy on August 3, 2015.
    [Show full text]
  • Our Pain, Their Gain
    Our Pain, Their Gain Mountains Destroyed for Coal Shipped Overseas NOTE: This report has not been officially adopted by the Committee on Natural Resources and may not necessarily reflect the views of its Members. Released: July 19, 2012 Our Pain, Their Gain Mountains Destroyed for Coal Shipped Overseas One of the coal industry’s favorite ads in recent years displays an orange power cord plugged directly into a piece of coal. The picture is accompanied by words assuring the viewer that coal is cheap, reliable and a key to the nation’s domestic energy security. The message for Americans is that coal equals electricity in the United States, and to tamper with that would be to tamper with our way of life. A more truthful ad would unplug the power cord and replace it with an oceangoing freightliner bound for steel mills and power plants across Europe, South A growing body of research 1 America, China and India. The image of the ship shows that mountaintop leaving an export terminal would then dissolve into removal mines not only ruin the naked remains of what used to be a majestic ecosystems but cause Appalachian mountain. As the camera zoomed out to cardiovascular disease, show the buried remains of streams and rivers and cancer, birth defects and hillsides stripped bare by mining, the announcer poor overall health. would tell the viewer about a dramatically changing industry that is depending more and more on exports to survive. Coal exports have nearly doubled since 2009 to 107 million tons last year, now accounting for almost 12 percent of U.S.
    [Show full text]
  • PPCO Twist System
    HUESKER Solutions Made in the USA SoilTain® • Made from a specially developed woven fabric • Efficient and eco-friendly alternative to traditional dewatering methods Minegrid® • High-tenacity polyester coated with a flame-resistant, anti-static coating • Unequaled safety record • Increased safety and production Impoundment Abandonment Covers • HUESKER geosynthetics can make closure faster, safer, and much less expensive Mining Geosynthetic Solutions Provider facebook.com/hueskernorthamerica twitter.com/HUESKERna linkedin.com/company/huesker-north-america www.HUESKER.us | E-mail: [email protected] | Phone: 704.588.5500 JANUARY/FEBRUARY 2018 VOL. 123 NO. 1 NEWS/4 FORECAST 2018/18 feature articles 18 The Coal Industry Prepares to Extend the 2017 Recovery Plans for capital spending increases on the heels of growing production 24 Longwall Production Rebounds in 2017 The numbers of overall faces drops by two, but production increases by nearly 10% U.S. LONGWALL CENSUS/24 SAFETY TRAINING/30 30 THE ABCs of KSAs Assessing the self-escape knowledge, skills and abilities of coal miners coal in the news 4 Cloud Peak to Ship PRB Coal to Japan 4 Murry Energy Will Acquire Majority Interest in Armstrong Energy 4 Projects Advancing in Illinois Basin in Early 2018 6 Blackhawk Set to Grow Met Coal Business in 2018 7 FERC Rejects DOE’s Proposal on Grid Reliability 8 Lighthouse Resources Files Lawsuit Against this issue Washington This month, Coal Age publishes its annual U.S. Longwall Census, 10 Another Hotspot Spells Trouble for Deer Run which provides details on some of the most advanced underground 10 Alpha Natural Resources Announces 2018 Sales coal mining systems.
    [Show full text]
  • Cliffs Natural Resources Strategy
    Project Report on Cliffs Natural Resources Inc. (NYSE: CLF) In partial fulfillment of the course Strategic Management-I Submitted to: Submitted by: Professor Veeresh Sharma Sourobh Das (15P052) Section A, PGPM 2015-17 Management Development Institute, Mehrauli Road, Sukhrali, Sector 17, Gurgaon - 122007 [Type text] [Type text] [Type text] Acknowledgements I feel obliged in submitting this report in partial fulfillment of the course Strategic Management-I. I would like to take this opportunity to thank Prof. Veeresh Sharma for his timely suggestions, help, guidance and encouragement during the project. I would also like to express my gratitude towards my institution, MDI- Gurgaon for generous access to research material that helped me carry out this in-depth analysis without which this project would not have come to fruition. I would also like to express my gratitude towards my peers whose valuable and honest opinions and inputs helped me bring this project to conclusion. Last but not the least, I would like to thank all the people who have been involved with me in the project directly or indirectly and who have supported me all throughout the course of this project. Executive Summary This report aims to unravel the corporate strategy and throw some light on the business aspects of one of the leading mining and natural resources companies in the United States, Cliffs Natural Resources. The report starts off with an overview of the company talking of its inception, the various milestones in its history, its mission and core values that help in determining what kind of company it has been over the years and where it aims to go forward.
    [Show full text]
  • National Mine Rescue, First Aid Bench and Preshift Competition 2017
    Index Welcome from the President of Holmes Mine Rescue Association ..........................................1 Acitivities Schedule...................................................................................................................3 2015 Champions ......................................................................................................................5 In Memory.................................................................................................................................9 Contest History .......................................................................................................................13 Exhibitor Displays ...................................................................................................................28 Major Awards and Donors ......................................................................................................29 State Awards ..........................................................................................................................33 Combination Teams ................................................................................................................35 Mine Rescue Teams ...............................................................................................................40 First Aid Teams .......................................................................................................................50 Bench - BG-4 Participants ......................................................................................................54
    [Show full text]
  • Labor Has a Long Memory”: Transformations in Capitalism and Labor Organizing in Central Appalachia, 1977-2019
    ABSTRACT Title of Thesis: “LABOR HAS A LONG MEMORY”: TRANSFORMATIONS IN CAPITALISM AND LABOR ORGANIZING IN CENTRAL APPALACHIA, 1977-2019 David Heim, Master of Arts in History, 2019 Thesis Directed By: Dr. David Freund, Associate Professor, History In 1989 the UMWA went on strike against Pittston Coal. In response to declining union power and corporate anti-unionism, the UMWA embraced community members and women as participants in its striking strategy. Although sometimes reluctant to do so, the union accepted the involvement of non-miners in non-violent demonstrations and civil disobedience, and was successful because of the strategic shift. The victory against Pittston Coal in 1989 suggests that scholars cannot rule industrial unions as sites of resistance to capitalism after 1982. The union’s acceptance of community organizing in 1989 also suggests a link between the strategies and success of the Pittston Strike and more recent organizing victories in West Virginia—the West Virginia Teachers’ Strikes. More recent labor militancy in Appalachia has also built off of legacies of resistance dating back to events like the Paint Creek Mine War and the Battle of Blair Mountain in 1912 and 1921. “LABOR HAS A LONG MEMORY”: TRANSFORMATIONS IN CAPITALISM AND LABOR ORGANIZING IN CENTRAL APPALACHIA, 1977-2019 by David Heim Thesis submitted to the Faculty of the Graduate School of the University of Maryland, College Park, in partial fulfillment of the requirements for the degree of Master of Arts 2019 Advisory Committee: Dr. David Freund, Chair Dr. Julie Greene Dr. Robyn Muncy © Copyright by David Heim 2019 Acknowledgements My research on Appalachia has been equal parts personal and scholarly.
    [Show full text]
  • Coal Extraction Data
    Alpha NR A B C D E F G H I J K L M N 1 2 Coal extraction data 3 Richard Heede 4 Climate Mitigation Services 5 File started: 11 January 2005 6 Last modified: August 2011 7 8 yellow column Alpha Natural Resources indicates original 9 reported units 10 www.alphanr.com Abingdon, Virginia 11 Production / Extraction data 12 Year Steam coal Metallurgical Total Coal Gross production Gross production Gross production Gross production Gross production Gross production 13 14 Million tons/yr Million tonnes/yr Million tons/yr Million tonnes/yr Million tons/yr Million tonnes/yr 15 16 1950 Alpha’s Form 10-K for 2008: SIC Code 1221 - Bituminous Coal and Lignite Surface Mining 17 1951 18 1952 19 1953 20 1954 21 1955 22 1956 23 1957 24 1958 25 1959 26 1960 27 1961 28 1962 29 1963 30 1964 31 1965 32 1966 33 1967 34 1968 35 1969 36 1970 37 1971 38 1972 39 1973 40 1974 41 1975 42 1976 43 1977 44 1978 Alpha Corporate Profile 2011 45 1979 46 1980 47 1981 Alpha Natural Resources acquired Massey Energy in 2011 48 1982 49 1983 50 1984 51 1985 52 1986 53 1987 54 1988 55 1989 56 1990 57 1991 58 1992 59 1993 60 1994 61 1995 RAG American 1999-2003 62 1996 Foundation Coal 2003-2008 RAG American 63 1997 million tons 1999-2003 64 1998 no RAG or Foundation Coal prior to 1999 million tons 65 1999 NMA 1999 RAG American 59.2 Alpha 59.2 59.2 53.7 66 2000 NMA 2000 RAG American 63.4 million tons 63.4 63.4 57.5 67 2001 NMA 2001 RAG American 65.5 65.5 65.5 59.4 68 2002 NMA 2002 RAG American 71.0 71.0 71.0 64.4 69 2003 NMA 2003 RAG American 72.2 17.5 72.2 89.7 81.4 70 2004 NMA 2004 Foundation 61.4 Coal 19.5 RAG sold coal mining operations in 2004 80.9 73.4 71 2005 NMA 2005 Foundation 66.3 Coal 20.6 86.9 78.8 72 2006 NMA 2006 Foundation 71.6 Coal 24.8 Alpha NR Alpha NR 96.4 87.5 73 2007 NMA 2007 Foundation 71.8 Coal 24.2 steam coal metallurgical 96.0 87.1 74 2008 NMA 2008 Foundation 69.4 Coal 23.5 15.5 11.4 92.9 84.3 75 2009 NMA 2009incl.
    [Show full text]
  • ARRI Partners: 2009
    3B Consulting Services (2015) Abandoned Mine Lands Reclamation Project (2015) Advance (2014) AFLAC Agent Chad Hutchinson (2010) Aigner Construction, Booneville, Indiana (2015) Alabama A&M University, Huntsville (2013) Alabama Department of Labor, Abandoned Mine Land Reclamation (2014) Alabama Forestry Commission (2013) Alcoa (2013) Alcoa Foundation (2013, 2014) Alice Lloyd College (2013) Alicieberry Mullins (2011, 2013) Allegany Coal and Land Company (2011, 2014, 2015) Allegany County Career and Technical Center (2011) Alpha Natural Resources (2010, 2011, 2012, 2013, 2014, 2015) Amaismeier, Joe (2014) American Bird Conservancy (2010, 2012) American Forest Heritage (2009) American Municipal Power (2012, 2013) American Rivers (2014, 2015) AmeriCorps (2015) AmeriCorps National Civilian Community Corp (2011, 2014) AmeriCorps - Pennsylvania Mountain Service Corp (2012, 2014) Anderson County LEARN Center (2011) Anonymous Donor (2012, 2013) Anthony Mining (2014) Apex Energy (2012, 2013, 2014, 2015) Appalachian Citizens Law Center (2014) Appalachian Coal Country Team (2009, 2010, 2012, 2013, 2014, 2015) Appalachian Energy (2015) Appalachian Forest Heritage Area (2014) Appalachian Forest Renewal Initiative (2015) Appalachian Forest Renewal Initiative-Kentucky (2015) Appalachian Forest Renewal Initiative-Tennessee (2015) Appalachian Forest Renewal Initiative-Virginia (2015) Appalachian Forest Renewal Initiative-West Virginia (2015) Appalachian Mountains Joint Venture (2015) Appalachian Production Services (2015) Appalachian Regional Commission (2012,
    [Show full text]
  • Coal Finance Report Card 2015 the End of Coal? Coal Finance Report Card 2015
    THE END OF COAL? COAL FINANCE REPORT CARD 2015 THE END OF COAL? COAL FINANCE REPORT CARD 2015 TABLE OF CONTENTS INTRODUCTION 30 APPENDIX 1: Full Coal Mining Rating Criteria and Bank Ratings 3 Executive Summary 36 APPENDIX 2: Full Coal Power Rating Criteria and Bank Ratings 4 Introduction: A Make-or-Break Moment for Banks and Coal 42 APPENDIX 3: Mountaintop Removal Coal Production Data 5 Key Data 44 APPENDIX 4: Top Global Power Companies by Coal-fired Power Capacity 6 Methodology 46 ENDNOTES COAL MINING 48 ACKNOWLEDGMENTS 9 Background on Coal Mining 10 Extreme Coal Mining 12 Coal Mining Case Studies 15 Coal Mining Rating Criteria 16 Bank Ratings: Coal Mining Finance 18 League Table: Coal Mining Finance COAL POWER 21 Background on Coal Power 22 Coal Power Case Studies 25 Coal Power Rating Criteria 26 Bank Ratings: Coal Power Finance 28 League Table: Coal Power Finance PHOTO: JOE ATHIALY PUBLICATION DATE: MAY 4, 2015 PAGE 2 | THE END OF COAL However, despite these bright spots, if the financial sector does not act swiftly and decisively to end financing for all coal, the death of coal will come too late for the climate. » In spite of the financial distress faced by the coal industry overall, banks have approached financing decisions in a piecemeal fashion, with global financing for coal mining and top coal-fired power companies holding steady at $144 billion, compared to $145 billion in 2013. » Disappointingly, major banks have also continued to finance several worst-of-the-worst “extreme coal” producers with major human and environmental impacts.
    [Show full text]
  • Planning for Coal Mine Closure in the Powder River Basin New Analytical Model Reveals Which Remaining Mines and Communities Are Most at Risk from Unplanned Shutdown
    Planning for coal mine closure in the Powder River Basin New analytical model reveals which remaining mines and communities are most at risk from unplanned shutdown May 2021 | By Dan Cohn It’s said that the Stone Age didn’t end because of a lack of stone. Just so, the massive coal seams underlying the rangelands of Wyoming and Montana will outlast profitable coal mining. Five decades after the onset of major strip mining in what became the country’s most productive coal region, the Powder River Basin, coal communities find themselves in the midst of a well-known shift dubbed the “Seneca Effect:” although growth is slow and incremental, collapse is comparatively sudden.1 Since hitting peak coal output in 2010, Powder River Basin coal production has fallen by half in a decade. Against this backdrop of rapid decline, Sightline has developed an analytical model to assess which coal mines in the region are most at risk of closure. The findings reveal a stark reality: each mine in the region saw its domestic customers burn less coal in 2020 than they had averaged for the three years prior. Some of the reductions proved to be catastrophic. Of the two mines that saw the steepest declines in customers’ coal burn in 2020, one has already been permanently closed and another has announced plans to close permanently. The basin’s remaining coal mines face an array of challenging circumstances. Largely for financial reasons, utility companies and electricity markets alike now largely prioritize natural gas, wind, and solar over coal, leading to the retirement of many coal plants, an end to new coal plant construction, and a dramatic decline in coal burn.
    [Show full text]