The merger of CONSOL Energy with Arch Resources to create a new operator, Core Natural Resources, which was announced last August, has now been completed. The transaction, which was supported by more than 99% of the companies’ stockholders, was effectively closed on January 14; Arch shares ceased trading the same day and new CNR trades were effective the following day.…
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Leer South temporarily sealed off
Core Natural Resources said it is taking steps to temporarily seal the Leer South mine’s active longwall panel in order to extinguish isolated combustion-related activity. An underground fire broke out at the coal mine, located near Philippi, W.Va., on January 13. “On behalf of the Core management team, I want to commend Leer South personnel for their exceptional efforts in…
Read MoreCONSOL, Arch merging, to become Core Natural Resources
In what may be one of the most significant M&A transactions in recent history for the U.S. coal industry, CONSOL Energy and Arch Resources jointly confirmed on August 21 that they have combined in an all-stock merger and together will create a top North American natural resource company focused on global coal: Core Natural Resources. The pairing will create a…
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