Massey moves it to met column, takes advantage of global hunger for U.S. coal

摘要

The theme of 2011 is "Move it to Met," and Massey Energy hasn't missed the memo. The company, set to merge June 1 with Alpha Natural Resources, is taking advantage of coal obtained through prior M&A - the Cumberland Resources deal. "We believe we are in a strong position to take advantage of the very favorable pricing in today's market," Massey CEO Baxter Phillips said. "We expect to shift 2 (million) to 3 million tons of Cumberland production into the metallurgical market in 2011 and recent contracts for limited quantities of this coal have been signed for as much as 300.00 dollars per ton FOBT.