Chairman of Bowie Resource Partners John Siegel has resigned. He founded the company in 2013, together with Galena Private Equity Resource Fund (Galena), an affiliate of Trafigura AG, to merge Siegel’s Bowie No. 2 mine in Colorado with the Canyon Fuel assets in Utah he acquired from Arch Coal.
“It is a very bittersweet moment for me because I truly love the Bowie Team I assembled and all who know me understand that I remain resolute in my commitment to see a complete consolidation of the Western Bituminous Region,” Siegel said.
Siegel added, “I want to express my appreciation to Trafigura and Galena for sharing the vision with me and for their role in helping to build a great and unique Utah coal company. However, it has become clear that the most expedient route to achieving our respective goals would be to separate, and in my case, to pursue my vision for coal and coal-related technologies in the Western Bituminous Region from a different platform. I remain absolutely convinced that the proper alignment of all coal assets in Utah can result in significant success and growth; both domestically as well as in the Seaborn Market.”
Siegel said he hopes to work with Galena and Trafigura in the future.