Alpha Natural Resources emerges from bankruptcy as two companies
Alpha Natural Resources exited bankruptcy on 27 July 2016, after operating for nearly one year under Chapter 11. The properties were divided into two new companies: Contura Energy and Alpha Natural Resources. Contura Energy is a new company formed by Alpha’s first lien lenders and will own and operate the two large PRB mines, the Cumberland longwall mine in Pennsylvania, two metallurgical coal operations in Virginia (Toms Creek and McClure) and the Nicholas metallurgical coal mine in West Virginia. Alpha will retain the remaining operations. In this insight, we look through the mines, qualities and outlook for production.