Insight

Virginia Conservation Legacy Fund buys coal mines, idles Pinnacle and uses new marketing model

Loading current market price

Get this report

Loading current market price

Get this report as part of a subscription

Enquire about Subscriptions

Already have subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

For further information about this report submit the form below.

Report summary

On December 22 2015 Cliffs Natural Resources exited the coal business by selling its two longwall operations Pinnacle and Oak Grove to an affiliate of Virginia Conservation Legacy Fund (VCLF). These mines which were originally owned by US Steel produce low volatile metallurgical coal. Output from the two mines was down about 630 000 t in 2015 compared to the previous two years and the new owner idled Pinnacle at the end of the year. Before the sale Cliffs cut workforce at these mines by nearly half and while the layoffs translate into improved productivity and cost competitiveness in the short run future viability of these mines will depend on how the new owner plans to operate the mines longer term and the success of their market strategy for offering carbon neutral coal.

What's included

This report contains

  • Document

    2015 Productivity.xls

    XLS 124.50 KB

  • Document

    Virginia Conservation Legacy Fund buys coal mines, idles Pinnacle and uses new marketing model

    PDF 253.19 KB

  • Document

    Virginia Conservation Legacy Fund buys coal mines, idles Pinnacle and uses new marketing model

    ZIP 326.68 KB

Table of contents

Tables and charts

This report includes 1 images and tables including:

Images

  • Pinnacle 2015 productivity by quarter (t/man/day)

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898