Contura name change to reflect metallurgical future
NYSE-listed Contura Energy on Friday announced that it would change its name to Alpha Metallurgical Resources on February 1.
The rebranding effort aims to more accurately reflect the company's strategic focus on the production of metallurgical coal as a critical feedstock for steel production.
Contura's recent divestiture of the Cumberland mine, in Pennsylvania, largely marked the company's exit from the thermal coal business.
"Over a year ago, we outlined our vision to make Contura a premier metallurgical coal producer," said chairperson and CEO David Stetson.
"Thanks to the transformative work of our team over the last several months, that vision has become a reality. Bringing back the Alpha name is not only meaningful to us and our history, but it also serves as an outward display to external stakeholders of the sharpened focus we have on metallurgical coal.”
The company’s common stock, currently traded under the CTRA ticker symbol, would begin trading under its new ticker symbol, AMR, on February 4.
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