Contura Energy sells its IPO as investment in 3-pronged coal business

摘要

Contura Energy Inc., the new coal company that got Alpha NaturalrnResources Inc.’s top assets after Alpha’s bankruptcy reorganization, is sellingrnitself on the public market as a “three-pronged” business.rnThe three prongs consist of a metallurgical coal business primarily basedrnin Central Appalachia; a thermal coal platform with mines in Northern Appalachia and the Powder River Basin, and a logistics and trading platformrnwith a 65% interest in the Dominion Terminal Associates coal export terminal.rnContura, which announced its IPO on May 8, holds nine undergroundrnmines, four surface mines and four coal preparation plants. “Our assetsrncreate a strong, diversified operational footprint and have the ability to generaterncash flows across many different pricing environments,” Contura saidrnin its filing. “Our met coal business, together with our trading and logisticsrnbusiness, is expected to sell 7.7 million tons of coal in 2017. In addition tornour operating met coal mines, we have three potential development projectsrnthat are primarily focused on met coal and provide opportunities for incrementalrnproduction growth.”