Cloud Peak Energy Inc., one of the largest US coal producers and the only pure-play Powder River Basin (PRB) coal company, has announced results for the second quarter and first six months of 2018.
Colin Marshall, President and Chief Executive Officer, commented: “The second quarter was challenging as shipments were behind plan primarily due to weather and operational issues at our Antelope mine. We are working to make up as many of the delayed shipments as we can through the second half of the year. While domestic coal burn is up, and utility coal stockpiles are decreasing, buying is currently slow and prices remain subdued. Our export business remained strong allowing us to export 1.3 million t during the quarter. We continue to expect to export approximately 5.5 million t in 2018. We are pleased to have amended and extended our existing Westshore throughput agreement, which increases annual capacity to 10.5 million tons in 2021 and 2022.”
The full report can be viewed here.
Read the article online at: https://www.worldcoal.com/coal/27072018/cloud-peak-energy-announces-financial-results/