Arch Resources and Consol Energy stockholders approved their merger. This forms Core Natural Resources. It becomes a leading North American coal producer and exporter. The merger completes on January 14, 2025. Trading on the NYSE starts January 15, 2025.
Core Natural Resources will be headquartered in Canonsburg, Pennsylvania. Its market capitalization is projected at $5.2 billion. The company will operate 11 mining sites. These sites are across six U.S. states. It will produce and export high-quality, low-cost coal. The portfolio includes thermal and metallurgical coal. These serve domestic and international markets.
Merger Terms and Structure
The merger is an all-stock transaction. Arch Resources stockholders receive 1.326 shares of Consol Energy common stock per share. After completion, Arch Resources stockholders own about 45% of Core Natural Resources. Consol Energy stockholders own the remaining 55%.
Core Natural Resources will possess significant assets. This includes a large, cost-effective thermal coal mining complex. The company will hold interests in 25 million tonnes per annum (tpa) of export coal capacity. These are through two U.S. East Coast marine export terminals. Core Natural Resources will have strategic connections to West Coast and Gulf of Mexico export facilities. SuperMetalPrice will continue to monitor the impact of this merger on the coal industry.
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