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Contura Announces Second Quarter 2020 Results

Coal News - Published on Tue, 11 Aug 2020

Image Source: Contura Energy Coronavirus COVID19
Leading US coal supplier Contura Energy Inc as reported results for the second quarter ending June 30, 2020.

In USD millionApr-Jun'20Jan-Mar'20QoQApr-Jun'19YoY
Net (loss) income($238.30)($39.80)-499%$24.30 -1081%
Adjusted EBITDA$16.90 $60.20 -72%$140.80 -88%
Capital expenditures($41.50)($49.60)16%($42.80)3%
Tons of coal sold5.15.5-7%6.4-20%
 


Coal Revenues
In USD millionApr-Jun'20Jan-Mar'20QoQ
CAPP - Met$316.30 $362.40 -13%
CAPP - Thermal$36.70 $38.70 -5%
NAPP$57.50 $66.90 -14%
 


Tons Sold (millions)Apr-Jun'20Jan-Mar'20QoQ
CAPP - Met3.23.3-3%
CAPP - Thermal0.60.60%
NAPP1.31.5-13%
 


Coal Sales Realization
(per ton)Apr-Jun'20Jan-Mar'20QoQ
CAPP - Met$81.61 $92.80 -12%
CAPP - Thermal$49.52 $56.73 -13%
NAPP$40.19 $42.81 -6%
 


As previously announced, certain operations were temporarily idled in early April in response to market conditions, inventory levels and expected customer deferrals. As of May 4, all Contura sites were back to nearly normal staffing levels and operating capacity with additional precautions in place to help reduce the risk of exposure to COVID-19.

On May 29, two previously wholly-owned subsidiaries of Contura Energy Contura Coal West LLC and Contura Wyoming Land LLC merged with certain subsidiaries of Eagle Specialty Materials LLC. In completing this transaction, Contura ended its connection with the Powder River Basin.

On June 22, the company announced that its Ruby Energy (also known as Kielty) underground mine and the Delbarton Preparation Plant were to be idled due to adverse market conditions and uneconomic pricing and cost structures. Kielty produces both thermal and metallurgical coal.

Source :

Posted By : Yogender Pancholi on Tue, 11 Aug 2020
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