Hallador Energy restructures Sunrise Coal Division

Brent Bilsland, Hallador’s CEO, commented: “As we transition Hallador from a coal production company to a vertically integrated independent power producer, we will idle production at our higher cost Freelandville and Prosperity Mines, reduce our capital reinvestment for coal production in 2024 by approximately US$10 million, and focus our seven units of underground equipment on four units of our lowest cost production. We will further improve the cost structure of these units by increasing their run time from five and a half days per week to seven days per week. We expect our coal production to generate 4.5 million t annually.”

As part of the initiative, the company will reduce its workforce by approximately 110 employees. The workforce reduction will be based on job category and personal performance ratings and will primarily affect Sunrise Coal employees.

“We value the contribution of all of our employees and recognise that these actions, while the right thing to do for the company, are also very hard for many of our employees and their families,” Bilsland continued.

“We are very excited about the future of Hallador – especially our Hallador Power subsidiary. We continue to see strong demand for capacity and energy in future years and a growing interest from our customers to secure longer term opportunities,” Bilsland concluded.

Read the article online at: https://www.worldcoal.com/coal/12032024/hallador-energy-restructures-sunrise-coal-division/