423:(53% = 49.2mt), was home to only 32% of coal reserves (behind U.S. Northern Appalachia (35% = 800mt) and Central Appalachia (32%, thermal coal). After the merger with Massey, the company controlled 150 coal mines and 40 preparation plants, which was up significantly from the 65 mines under its control at the end of 2007. For 2011, Massey expected to ship 10 to 14 million tons of metallurgical coal, about the same as Alpha (in 2010 this was 11.88 million tons or 14% of total production). In its last annual report (2009) Massey Energy reported coal sales of 38 million tons (ranking sixth in the US), compared to 84.8 million tons sold by Alpha Natural Resources in 2010. In the fourth quarter of 2010 Massey Energy had a coal shipment shortfall of 1.4 million tons, half of which was due to rail problems, and the other half a result of misproduction.
27:
1162:
303:, in that Foundation Coal was the company left standing and it was immediately renamed Alpha Natural Resources. Foundation Coal added 7.5 million tons of annual coal shipments to its Eastern Coal operations, and expanded the company's presence in Wyoming. Although acquisitions helped Alpha expand rapidly since its founding in 2002, it also burdened it with debt ($ 185.6 million in 2004, $ 754.15 December 31, 2010).
142:
119:
160:
398:
agreed to accept $ 61 million in place of the firm's $ 411 million in self-bonding liability to the state. In West
Virginia, Alpha's bankruptcy plan is to offer $ 240 million in collateral for its self-bonding liabilities and to continue holding $ 100 million in liability without collateral. The plan
331:
The corporate takeover of Massey Energy was completed in June 2011 after shareholders of both companies voted for the merger. 99% of Massey shareholders voted for the deal (77% of them voted), while 98% of Alpha's shareholders supported it (83% of them voted). Alpha secured $ 3.3 billion in financing
276:'s Virginian coal business, for $ 62.9 million (Virginia is currently a significant source of primary production). Immediately after that it took over Coastal Coal Company (January 2003), followed by American Metals and Coal International's coal business (March) and Mears Enterprises, Inc (November).
378:
The firm suffered four years of losses, laid off 4,000 workers, and closed all but 50 mines. Due to its "abnormally low" stock price, Alpha was delisted from the NYSE on July 16, 2015. With debts of $ 3 billion dating from its acquisition of Massey Energy for $ 7.1 billion in 2011 the firm filed for
351:
Alpha settled Massey's Upper Big Branch Mine disaster liabilities with the U.S. Attorney for $ 209 million on
December 6, 2011. The settlement included $ 41.5 million to the survivors and families of the deceased. The Mine Safety and Health Administration additionally assessed a $ 10.8 million fine
291:
Alpha
Natural Resources filed for an IPO during December 2004 in an attempt to raise US$ 250 million to repay debt (strong coal prices also affected the timing of this). At the time, coal was selling for about a quarter of the price of natural gas ($ 1.5 versus $ 5.0 per million BTU); however, the
369:
In 2014, Alpha settled on a $ 27.5 million fine and $ 200 million to reduce illegal toxic discharges into hundreds of waterways across five
Appalachian states. According to the EPA, it was the largest environmental fine ever made against a coal company: "This is the largest one, period. It's the
315:
for US$ 7.1 billion, completed in June 2011, creating the second biggest coal miner by market capitalization. The merged company (54% owned by Alpha
Natural Resources) would be the leading producer of metallurgical coal in the US and have the second largest reserves of coal (5.1 billion tons).
316:
Merging operations with Massey is estimated to reduce combined operating costs by $ 150 million. 7,000 of the 14,000 employees are in West
Virginia. In 2010, demand for thermal coal rose while metallurgical coal demand was flat; it made up only 14% of coal sales, down from 17% in 2009.
249:
states. According to the EPA it was the largest environmental fine ever made against a coal company: "This is the largest one, period. It's the biggest case for permit violations for numbers of violations and size of the penalty, which reflects the seriousness of violations."
360:
On
September 18, 2012, Alpha announced a plan to idle eight coal mines and to lay off 800 employees before the November 2012 federal elections in the United States. The plan would reduce Alpha's yearly coal production by ~16 million tons and reduce costs by $ 150 million.
323:
that killed 29 employees. Direct costs related to the incident amounted to $ 128.9 million. Federal regulators and the Mine Safety and Health
Administration blamed the explosion on Massey's poor practices; however, the company contested the findings, citing a
690:
418:
Only about 40% of coal is produced directly by the company, and 60% comes from subsidiaries. Three-fourths of the company's 60 mines are underground operations. In 2008 the biggest source of coal production, the
235:. Alpha Natural Resources does not produce all of the coal it sells; much of the coal sold by Alpha Natural Resources is purchased from independent mining operations and then resold in the worldwide market.
762:
626:
431:
Alpha's corporate office building in
Bristol, Virginia was reportedly sold in February 2015 for $ 28 million to One Alpha Place LLC, registered in Delaware and owned by the publicly traded
697:
1215:
922:
883:"US Labor Department's MSHA cites corporate culture as root cause of Upper Big Branch Mine disaster: Massey issued 369 citations and orders with $ 10.8 million in civil penalties"
937:
1220:
399:
would commit $ 209 million to reclamation in
Illinois, Kentucky, Tennessee, Virginia, and West Virginia. Bankruptcy negotiations are complicated by large hedge funds, such as
203:. The company also provides industry services relating to equipment repairs, road construction and logistics, with domestic operations and coal reserves within the states of
1205:
1149:
443:
Before the merger with Massey Energy, Alpha had over 60 active mines in four US states. After the merger the number of mines reached 110-150. Notable ones include
245:
In 2014, Alpha Natural Resources settled on a $ 27.5 million fine and $ 200 million to reduce illegal toxic discharges into hundreds of waterways across five
1094:
814:
391:
521:
769:
728:
630:
1122:
1136:
435:. The deal will apparently have no impact on the building's sole tenant (Alpha), which at the time had 22 years remaining on a 25-year lease.
1195:
395:
1080:
1150:
http://www.tricities.com/news/alpha-building-sold-for-million-to-oil-and-gas-company/article_5abc2488-c74d-11e4-bdda-5f09c7a1eae3.html
370:
biggest case for permit violations for numbers of violations and size of the penalty, which reflects the seriousness of violations."
1210:
380:
861:"Alpha Natural Resources Inc. and Department of Justice Reach $ 209 Million Agreement Related to Upper Big Branch Mine Explosion"
882:
454:
In Coal River East, Kingston Mining, located in Kingston, West Virginia, has some of the world's most sought-after met coal.
272:
Stockholders (though it officially incorporated in November 2004). Around the same time it made its first major acquisition,
908:
199:("steam coal") to fuel steam boilers for the production of electrical power. In November, 2018 the company was acquired by
1200:
551:
404:
1049:
268:
Alpha Natural Resources was established in 2002 by management (original CEO Michael Quillen played a major role) and
992:
581:
319:
Massey Energy had become a takeover target after suffering large income losses and negative publicity following an
296:
while gas is still at $ 5.189). (Natural gas is used as an alternative to thermal coal in electricity production.)
1098:
738:
320:
283:
and Alpha Natural Resources, Inc.) and another in January 2011 (US$ 7.1 billion acquisition of Massey Energy).
238:
The 2009 takeover of Foundation Coal provided Alpha Natural Resources with the ability to directly access the
400:
835:
432:
667:
279:
Alpha Metallurgical Resources exists today primarily as the result of two mergers, one in July 2009 (
269:
483:
477:
239:
460:
Black Bear Surface Mines was previously operated, but more recently is one of the company's two
410:
On July 26, 2016, the company successfully emerged from bankruptcy as a privately held company.
860:
506:
273:
37:
340:. The combined entity will be the world's number three producer of metallurgical coal, behind
104:
293:
80:
923:"NYSE to Suspend Trading in Alpha Natural Resources (ANR), Commence Delisting Proceedings"
8:
839:
644:
386:
Alpha had used more than $ 1 billion in "self-bonding" to guarantee it could pay for its
292:
ratio has since become much smaller (as of 2010, coal has tripled in price to $ 4.63/mil
885:(Press release). Mine Safety and Health Administration. December 6, 2011. Archived from
420:
192:
1074:
886:
465:
794:
195:("met coal") for the industrial production of steel and iron and low-sulfur thermal
461:
448:
387:
300:
352:
for 369 citations and orders, the largest fine for a mine accident in US history.
280:
938:"Alpha Natural Resources, a Onetime Coal Giant, Files for Bankruptcy Protection"
819:
799:
585:
457:
Currently, Alpha affiliates operate approximately 60 mines and 22 prep plants.
444:
345:
337:
200:
70:
26:
1163:"Alpha Natural Resources and Massey Energy Agree to $ 8.5 billion combination"
1189:
1056:
312:
208:
1176:
815:"Alpha Natural Agrees to Buy Massey Energy for $ 7.1 Billion in Cash, Stock"
966:
325:
232:
606:
1152:"Alpha building sold for $ 28 million to oil and gas company in Kuwait"
733:
407:, who own both the company's debt and liens on Alpha's operating cash.
246:
131:
333:
228:
224:
212:
204:
672:
627:"Gas Rally Boosts Coal's Allure for Power Plants: Energy Markets"
216:
51:
152:
47:
486:, a producer that also mines in Appalachia and West Virginia
1137:"Massey Energy 2010 Corporate Social Responsibility Report"
668:"Alpha agrees to buy Massey Energy for about $ 7.1 billion"
220:
196:
163:
1123:"Massey Energy 2010 4th Quarter Earnings Call Transcript"
1023:
341:
175:
1216:
Companies formerly listed on the New York Stock Exchange
967:"Coal: Mine cleanup concerns spike as industry sputters"
1221:
Companies that filed for Chapter 11 bankruptcy in 2015
863:(Press release). US Dept. of Justice. December 6, 2011
1206:
Non-renewable resource companies established in 2002
875:
795:"Massey Energy Rejects Federal Blame in Mine Blast"
993:"Coal company bankruptcies jeopardize reclamation"
552:"Coal firm to pay record fine for water pollution"
513:
392:Surface Mining Control and Reclamation Act of 1977
321:explosion at West Virginia's Upper Big Branch mine
306:
723:
721:
719:
717:
311:On January 31, 2011 Alpha acquired coal producer
1187:
582:"Southwest Virginia coal producer files for IPO"
364:
1095:"Alpha Natural Resources products and services"
1024:"Regulators Fear $ 1 Billion Coal Cleanup Bill"
935:
507:"Alpha Natural Resources 2010 Year End Results"
258:
1177:"Parker on the Green Room - Discovery Channel"
714:
549:
355:
1117:
1115:
853:
827:
757:
755:
685:
683:
242:and to rail transport coal in Pennsylvania.
545:
543:
501:
499:
396:Wyoming Department of Environmental Quality
1017:
1015:
1013:
464:projects. The project was featured on the
394:. After the firm declared bankruptcy, the
1112:
752:
680:
836:"Feds Blame Owner of West Virginia Mine"
763:"Alpha Natural Resources 2010 10-K Form"
662:
660:
540:
496:
1021:
1010:
990:
929:
16:American producer of metallurgical coal
1188:
1079:: CS1 maint: archived copy as title (
991:Shogren, Elizabeth (25 January 2016).
792:
299:The takeover of Foundation Coal was a
964:
833:
657:
576:
574:
572:
519:
729:"It's official: Massey is now Alpha"
480:, a coal producer of comparable size
253:
1196:Coal companies of the United States
405:Davidson Kempner Capital Management
373:
20:Alpha Metallurgical Resources, Inc.
13:
936:Clifford Krauss (August 3, 2015).
569:
14:
1232:
1022:Corkery, Michael (7 June 2016).
834:Maher, Kris (December 6, 2011).
550:Dina Cappiello (March 5, 2014).
522:"Contura-Alpha Merger Completed"
191:is a large American producer of
158:
141:
140:
118:
117:
25:
1211:2002 establishments in Virginia
1169:
1155:
1143:
1129:
1087:
1042:
984:
958:
915:
901:
807:
786:
426:
307:2011, Massey Energy acquisition
793:Broder, John M. (2011-01-28).
637:
619:
599:
471:
159:
1:
965:Brown, Dylan (1 March 2016).
490:
413:
401:Highbridge Capital Management
365:2014, settlement with the EPA
189:Alpha Metallurgical Resources
768:. 2011-02-25. Archived from
737:. 2011-06-08. Archived from
696:. 2011-01-31. Archived from
629:. 2010-06-15. Archived from
584:. 2011-02-21. Archived from
520:McGee, David (Nov 9, 2018).
433:Kuwait Petroleum Corporation
286:
259:Alpha Natural Resources, Inc
7:
1201:Companies based in Virginia
10:
1237:
356:2012 election year layoffs
170:
150:
129:
110:
100:
87:
76:
65:
57:
43:
33:
24:
484:Patriot Coal Corporation
478:Cliffs Natural Resources
438:
240:Cumberland Mine Railroad
263:
526:Bristol Herald-Courier
390:obligations under the
332:for the takeover from
953:Chapter 11 bankruptcy
381:Chapter 11 bankruptcy
125:89% coal,8.5% freight
105:Coking and steam coal
166:5.17928 bil (Dec'10)
81:Kingsport, Tennessee
889:on January 11, 2012
840:Wall Street Journal
451:(both in Wyoming).
383:on August 3, 2015.
274:The Brink's Company
21:
1028:The New York Times
942:The New York Times
421:Powder River Basin
193:metallurgical coal
19:
997:High Country News
633:on June 18, 2010.
466:Discovery Channel
254:Corporate history
186:
185:
146:
123:
1228:
1181:
1180:
1173:
1167:
1166:
1159:
1153:
1147:
1141:
1140:
1133:
1127:
1126:
1119:
1110:
1109:
1107:
1106:
1097:. Archived from
1091:
1085:
1084:
1078:
1070:
1068:
1067:
1061:
1055:. Archived from
1054:
1046:
1040:
1039:
1037:
1035:
1019:
1008:
1007:
1005:
1003:
988:
982:
981:
979:
977:
962:
956:
955:
950:
948:
933:
927:
926:
919:
913:
912:
905:
899:
898:
896:
894:
879:
873:
872:
870:
868:
857:
851:
850:
848:
846:
831:
825:
824:
811:
805:
804:
790:
784:
783:
781:
780:
774:
767:
759:
750:
749:
747:
746:
725:
712:
711:
709:
708:
702:
695:
691:"Alpha + Massey"
687:
678:
677:
664:
655:
654:
652:
651:
645:"ANR financials"
641:
635:
634:
623:
617:
616:
614:
613:
603:
597:
596:
594:
593:
578:
567:
566:
564:
562:
547:
538:
537:
535:
533:
517:
511:
510:
503:
462:land restoration
449:Eagle Butte Mine
388:mine reclamation
374:2015, bankruptcy
301:reverse takeover
182:
179:
177:
162:
161:
155:
144:
143:
138:
121:
120:
115:
114:$ 3,917.156 mil
96:
29:
22:
18:
1236:
1235:
1231:
1230:
1229:
1227:
1226:
1225:
1186:
1185:
1184:
1175:
1174:
1170:
1161:
1160:
1156:
1148:
1144:
1135:
1134:
1130:
1121:
1120:
1113:
1104:
1102:
1093:
1092:
1088:
1072:
1071:
1065:
1063:
1059:
1052:
1050:"Archived copy"
1048:
1047:
1043:
1033:
1031:
1020:
1011:
1001:
999:
989:
985:
975:
973:
963:
959:
946:
944:
934:
930:
921:
920:
916:
907:
906:
902:
892:
890:
881:
880:
876:
866:
864:
859:
858:
854:
844:
842:
832:
828:
813:
812:
808:
791:
787:
778:
776:
772:
765:
761:
760:
753:
744:
742:
727:
726:
715:
706:
704:
700:
693:
689:
688:
681:
666:
665:
658:
649:
647:
643:
642:
638:
625:
624:
620:
611:
609:
605:
604:
600:
591:
589:
580:
579:
570:
560:
558:
556:Yahoo News (AP)
548:
541:
531:
529:
518:
514:
505:
504:
497:
493:
474:
441:
429:
416:
376:
367:
358:
309:
289:
281:Foundation Coal
266:
261:
256:
174:
151:
134:
124:
95:(CEO, Chairman)
94:
90:
83:, United States
17:
12:
11:
5:
1234:
1224:
1223:
1218:
1213:
1208:
1203:
1198:
1183:
1182:
1168:
1154:
1142:
1128:
1111:
1086:
1041:
1009:
983:
957:
928:
914:
900:
874:
852:
826:
820:Bloomberg News
806:
800:New York Times
785:
751:
713:
679:
656:
636:
618:
607:"AMCI Capital"
598:
568:
539:
512:
494:
492:
489:
488:
487:
481:
473:
470:
445:Belle Ayr Mine
440:
437:
428:
425:
415:
412:
375:
372:
366:
363:
357:
354:
346:Teck Resources
338:JPMorgan Chase
308:
305:
288:
285:
265:
262:
260:
257:
255:
252:
201:Contura Energy
184:
183:
172:
168:
167:
156:
148:
147:
135:
130:
127:
126:
112:
108:
107:
102:
98:
97:
91:
88:
85:
84:
78:
74:
73:
71:Contura Energy
67:
63:
62:
59:
55:
54:
45:
41:
40:
35:
31:
30:
15:
9:
6:
4:
3:
2:
1233:
1222:
1219:
1217:
1214:
1212:
1209:
1207:
1204:
1202:
1199:
1197:
1194:
1193:
1191:
1179:. 2011-01-15.
1178:
1172:
1165:. 2011-01-29.
1164:
1158:
1151:
1146:
1138:
1132:
1125:. 2011-02-01.
1124:
1118:
1116:
1101:on 2011-07-07
1100:
1096:
1090:
1082:
1076:
1062:on 2016-08-03
1058:
1051:
1045:
1029:
1025:
1018:
1016:
1014:
998:
994:
987:
972:
968:
961:
954:
943:
939:
932:
924:
918:
910:
904:
888:
884:
878:
862:
856:
841:
837:
830:
823:. 2011-01-29.
822:
821:
816:
810:
802:
801:
796:
789:
775:on 2012-09-17
771:
764:
758:
756:
741:on 2013-01-21
740:
736:
735:
730:
724:
722:
720:
718:
703:on 2011-07-16
699:
692:
686:
684:
676:. 2011-01-31.
675:
674:
669:
663:
661:
646:
640:
632:
628:
622:
608:
602:
588:on 2013-02-01
587:
583:
577:
575:
573:
557:
553:
546:
544:
528:. Bristol, VA
527:
523:
516:
509:. 2011-02-09.
508:
502:
500:
495:
485:
482:
479:
476:
475:
469:
467:
463:
458:
455:
452:
450:
446:
436:
434:
424:
422:
411:
408:
406:
402:
397:
393:
389:
384:
382:
371:
362:
353:
349:
347:
343:
339:
335:
329:
327:
322:
317:
314:
313:Massey Energy
304:
302:
297:
295:
284:
282:
277:
275:
271:
270:First Reserve
251:
248:
243:
241:
236:
234:
230:
226:
222:
218:
214:
210:
209:West Virginia
206:
202:
198:
194:
190:
181:
173:
169:
165:
157:
154:
149:
137:$ 95.551 mil
136:
133:
128:
113:
109:
106:
103:
99:
92:
86:
82:
79:
75:
72:
68:
64:
60:
56:
53:
49:
46:
42:
39:
36:
32:
28:
23:
1171:
1157:
1145:
1131:
1103:. Retrieved
1099:the original
1089:
1064:. Retrieved
1057:the original
1044:
1032:. Retrieved
1030:. p. A1
1027:
1000:. Retrieved
996:
986:
974:. Retrieved
970:
960:
952:
945:. Retrieved
941:
931:
917:
903:
891:. Retrieved
887:the original
877:
865:. Retrieved
855:
843:. Retrieved
829:
818:
809:
798:
788:
777:. Retrieved
770:the original
743:. Retrieved
739:the original
732:
705:. Retrieved
698:the original
671:
648:. Retrieved
639:
631:the original
621:
610:. Retrieved
601:
590:. Retrieved
586:the original
559:. Retrieved
555:
530:. Retrieved
525:
515:
459:
456:
453:
442:
430:
427:Headquarters
417:
409:
385:
377:
368:
359:
350:
330:
326:methane leak
318:
310:
298:
290:
278:
267:
244:
237:
233:Pennsylvania
188:
187:
153:Total assets
93:Andy Eidson
77:Headquarters
69:acquired by
34:Company type
893:December 6,
867:December 6,
845:December 6,
472:Competition
247:Appalachian
1190:Categories
1105:2011-02-21
1066:2016-07-28
779:2011-06-09
745:2011-06-09
734:Daily Mail
707:2011-02-21
650:2011-02-21
612:2011-02-21
592:2011-02-21
491:References
414:Operations
132:Net income
89:Key people
971:Greenwire
947:August 7,
334:Citigroup
287:2004, IPO
229:Tennessee
1075:cite web
1002:17 April
976:17 April
561:March 7,
225:Illinois
213:Kentucky
205:Virginia
178:.alphanr
101:Products
44:Industry
1139:. 2010.
673:Reuters
217:Wyoming
171:Website
111:Revenue
58:Founded
38:Private
1034:8 June
909:"Home"
532:Nov 9,
231:, and
139:(2010)
116:(2010)
52:mining
48:Metals
1060:(PDF)
1053:(PDF)
773:(PDF)
766:(PDF)
701:(PDF)
694:(PDF)
439:Mines
145:64.7%
1081:link
1036:2016
1004:2016
978:2016
949:2015
895:2011
869:2011
847:2011
563:2014
534:2018
447:and
403:and
344:and
336:and
264:2002
221:Utah
197:coal
180:.com
164:US$
66:Fate
61:2002
50:and
342:BHP
294:BTU
176:www
122:57%
1192::
1114:^
1077:}}
1073:{{
1026:.
1012:^
995:.
969:.
951:.
940:.
838:.
817:.
797:.
754:^
731:.
716:^
682:^
670:.
659:^
571:^
554:.
542:^
524:.
498:^
468:.
348:.
328:.
227:,
223:,
219:,
215:,
211:,
207:,
1108:.
1083:)
1069:.
1038:.
1006:.
980:.
925:.
911:.
897:.
871:.
849:.
803:.
782:.
748:.
710:.
653:.
615:.
595:.
565:.
536:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
