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US miner Contura expects to supply up to 9.1 mil st of metallurgical coal in 2018

London — US coking coal miner Contura Energy said it expects to supply as much as 9.1 million st of metallurgical coals in 2018 through its own mines and third-party traded coal.

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Contura expects to sell 3.7 million-4.1 million st of met coal form its Central Appalachia mines, and 4.2 million-5 million st of met coal through Contura's Trading and Logistics business, the private Tennessee-based company said in a statement Monday.

Contura sells Alpha Natural Resources' met coals into export markets and is active in supplying its own and third-party coals to steel markets in the Atlantic, India and Asia.

Northern Appalachia shipments will be sold primarily into thermal markets and may total 7.1 million-7.7 million st, it said.

Contura said 16% of the midpoint of anticipated 2018 CAPP met coal production shipments -- or around 624,000 st based on Platts calculations -- were committed and priced at an average per-ton realization of $113.53/st FOB Mine, as of February 6.

An additional 33% of met coal guidance, or 1.29 million st of CAPP production as calculated by S&P Global Platts, was committed but either unpriced or priced based on various indices, it said.

Contura said it expects 2018 CAPP cost of coal sales per ton to range from $68-$73 st.

Costs related to the company's idle operations are expected to be between $10 million and $12 million for full-year 2018.

Contura's Trading and Logistics platform is expected to average a $9-$15/st margin for full-year 2018, excluding consideration of any remaining shipments relating to the divested Powder River Basin assets.

Contura's capital expenditures for 2018 are expected to be in the range of $64 million to $74 million.

On January 16, private producer Alpha issued 2018 full-year sales guidance of 6.8 million-7.8 million st of met coal, with the majority of sales from Alpha's Low-Vol, Mid-Vol, and High-Vol A products, it said.

Contura and Alpha's assets were held by the former New York Stock Exchange-listed Alpha Natural Resources, which was restructured, leading to the asset split.

--Hector Forster,
--Edited by Alisdair Bowles,