CA-Black-Transp

MSHA: No Mines Eligible for POV Notice

For the third straight year, the U.S. Department of Labor’s Mine Safety and Health Administration (MSHA) announced that none of the nation’s more than 13,000 mining operations meet the criteria for a Pattern of Violations (POV) notice. The screening period started on July 1, 2016, and ended on June 30, 2017.

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Contura Launches IPO

On July 31, Contura Energy Inc. announced it has launched a proposed initial public offering of 6 million shares of its common stock at an anticipated initial offering price between $23 and $27per share, according to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (SEC). All of the shares of common stock are being offered by the selling stockholders named in the registration statement. In addition, the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock. The shares are expected to trade on the New York Stock Exchange (NYSE) under the symbol “CTRA.” 

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Glencore Acquires Interest in Hunter Valley Coal Operations

Glencore has signed agreements with Yancoal Australia regarding the acquisition of a 49% interest in the Hunter Valley Operations (HVO) coal mine in New South Wales and forming a joint venture (JV) following Yancoal’s acquisition of Coal & Allied (C&A) from Rio Tinto. 

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Alpha to Transfer Idle Assets, Eliminate Self-bonding in West Virginia

Alpha Natural Resources plans to pay Lexington Coal Co. (LCC) to take its idled assets. Included with these properties, which are located in Kentucky, Illinois, Tennessee and West Virginia, are approximately 280 permits, substantial reclamation equipment, ongoing royalty payments associated with these properties and 100 million tons of reserves. While the specific economic terms were not disclosed, LCC will receive approximately $204 million in cash at the time of closing and $112 million in installment payments to assist in the fulfillment of bonding, reclamation, water treatment and other obligations associated with the conveyed properties and permits.

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Murray Energy Asks for STB Assistance With CSX Service Delays

Murray Energy Corp. (MEC) has requested the assistance of the U.S Surface Transportation Board (STB) to resolve service issues and delays caused by CSX Corp. MEC said the railroad is failing to adequately perform all of its obligations. The private coal company said CSX has caused or contributed to countless delays and cancellations of trains scheduled to originate from MEC’s operations. They blamed CSX CEO Hunter Harris for the problems and said the railroad’s performance has only gotten worse.

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