ARLP is a diversified natural resource company that generates income from coal production and oil and gas mineral interests located in strategic producing regions across US
Image: ARLP currently produces coal from eight mining complexes. Photo: Courtesy of Анатолий Стафичук from Pixabay.
Alliance Resource Partners (ARLP) reported that it will cease coal production effective August 16, 2019 at the Dotiki Mine operated by its subsidiary, Webster County Coal, in order to focus on maximizing production at its lower-cost mines in the Illinois Basin. After production ceases, the operation will engage in reclamation of equipment and infrastructure for an indeterminate time.
“Unfortunately, weak market conditions made this action necessary,” said Joseph W. Craft III, Chairman, President and Chief Executive Officer. “We are saddened that production will be ending at the Dotiki Mine, which was opened in 1969 and is the oldest mine operated by ARLP.”
ARLP does not expect this action to have any impact on its previously announced earnings guidance provided in its July 26, 2019 Press Release, including 2019 full-year ranges for coal production of 40.8 to 42.3 million tons and coal sales volumes of 40.8 to 42.4 million tons.
ARLP is a diversified natural resource company that generates income from coal production and oil and gas mineral interests located in strategic producing regions across the United States.
ARLP currently produces coal from eight mining complexes it operates in Illinois, Indiana, Kentucky, Maryland and West Virginia. ARLP also operates a coal loading terminal on the Ohio River at Mount Vernon, Indiana. ARLP markets its coal production to major domestic and international utilities and industrial users and is currently the second largest coal producer in the eastern United States.
ARLP generates royalty income from mineral interests it owns in premier oil and gas producing regions in the United States, primarily the Anadarko, Permian, Williston and Appalachian basins.
Source: Company Press Release.