https://www.miningweekly.com

Contura finds buyer for Cumberland mine

12th November 2020

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Tennessee-based coal supplier Contura Energy has found a buyer for the Cumberland mine, which it had planned to close in 2022.

The company on Thursday announced that it would sell the mine in Greene county, as well as other Pennsylvania assets, to Iron Senergy in an equity transaction, which would close before the end of the year.

Iron Senergy has expressed its intention to continue operating the Cumberland mine past Contura’s previously announced planned closure at the end of 2022. Contura said that Iron Senergy's plan also included the development and integration of renewable energy in efforts to further develop synergistic opportunities with regional utilities.

"In addition to the important benefits to Cumberland employees and the local community in Greene county, the signing of this agreement to divest Cumberland provides a way for both Contura and Iron Senergy to advance our respective strategic goals," said Contura chairperson and CEO David Stetson.

"This transaction allows Contura to nearly complete our move to a pure-play metallurgical company providing critical feedstock for steel production.”

Closing the transaction would also meaningfully reduce Contura’s asset retirement obligations and collateralisation requirements.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.039 1.156s - 110pq - 2rq
Subscribe Now