CONSOL Energy Inc. and Arch Resources successfully merged on Tuesday, forming Core Natural Resources.
The combined company is based in Canonsburg and will produce and export coal, including metallurgical and high calorific value thermal coals. Its portfolio includes the Pennsylvania Mining Complex, Leer, Leer South, and West Elk mines.
The combine company expects the merger will allow it to serve multiple growth markets, create a revenue through contracted thermal coal and metallurgical coal, expand export capabilities via ownership interests in two East Coast terminals and longstanding relationships with West Coast and Gulf Coast ports, return significant capital to stockholders, and make strategic investments in innovation and growth.
“Since the merger’s announcement, the Arch and CONSOL teams have collaborated to lay the foundation for a swift, efficient, and value-creating integration, and we fully intend to hit the ground running in capturing the combination’s substantial synergies and realizing the full potential of the new enterprise,” Paul A. Lang, Core CEO, said. “At the same time, we will be building upon the central principles that have served as the bedrock of both Arch’s and CONSOL’s corporate cultures – a deep and unwavering commitment to safety; environmental and social stewardship; integrity; and operational excellence.”