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StockRoomBully   Sunday, 12/08/19 05:03:09 AM
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Know what you own. Understand what you have

"Metallurgical Coke Market 2019 | Worldwide Share, Global Trends, Boost Growth, Fuel Demand by 2026"

"In yet another example of the perceived strength of the metallurgical coal sector, thermal coal producer Murray Energy Corp. is purchasing Mission Coal Co. LLC's coking coal assets, while another pure-play thermal coal producer's financial situation continued to deteriorate this week."

Murray Energy’s existing Joint Venture partner, Javelin Global Commodities (UK) LTD. (“Javelin”), is the minority owner of Murray Metallurgical Coal Holdings, LLC, and will lead the global marketing efforts for these world class coal mines.

Murray Oak Grove Coal, LLC will operate the Oak Grove Mine complex near Bessemer, Alabama, and Murray Maple Eagle Coal, LLC will operate the Maple Eagle No. 1 Mine near Powellton, West Virginia, and will assess and operate additional highwall mineable coal reserves in the same vicinity.

Arch Coal Inc. and Consol Energy Inc. remain on track to open new mines to dig steelmaking, or metallurgical, coal from the West Virginia hills. That’s even as the market is already glutted, with prices down about 30% in 12 months.

They’re betting they can produce coal cheaply enough to profit even as their rivals retrench. Bloomberg Intelligence expects the global supply of the metallurgical variety to exceed demand this year by 2.7%, as economic headwinds blunt steel demand. At least four U.S. companies have shut mines since August. Five have filed for bankruptcy this year.



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