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- Arch Resources and CONSOL Energy Announce Merger to Form Core Natural Resources
Arch Resources and CONSOL Energy Announce Merger to Form Core Natural Resources
Slice of Energy Team
August 30, 2024
Key Highlights:
Creation of Core Natural Resources: A new North American coal producer with global reach and 11 mining operations.
Significant Market Presence: Combined 2023 revenue of $5.7 billion and adjusted EBITDA of $1.8 billion.
Leadership Team: Jimmy Brock as Executive Chairman, Paul Lang as CEO.
Source (Direct)
Notable Quotes:
"We are excited to bring our companies together to create a new industry leader that is ideally positioned to meet the rising demand for critical resources and energy around the world."
"This merger will join two proven leadership teams and best-in-sector operating platforms to establish a premier North American coal producer with worldwide reach."
Our Take:
The merger between Arch Resources and CONSOL Energy is poised to reshape the North American coal industry, creating a robust entity with significant market presence and global export capabilities. With a diversified portfolio and strategic logistics access, Core Natural Resources is well-positioned to capitalize on global demand for both metallurgical and thermal coals. This merger is a strategic move that enhances operational synergies and financial strength, setting the stage for strong capital returns and sustained growth in a challenging industry.