Alpha Natural expects 2013 shipment volumes 81M-92M tons Expects to reduce overhead expenses of $150M annually by streamlining field operations & corporate functions. The expected savings will be at least $100M in cost of coal sales $50M in SG&A. The company has also reduced FY13 CapEx to $300M-$350M from $498M in 2012. Comments taken from slides for JP Morgan Global High Yield & Leveraged Finance Conference.
Joy Global sees U.S coal market to be challenged in 2015 Joy Global says U.S. coal exports are likely to decline this year. Falling gas prices attributable to warmer weather will result in a switch to gas for electricity production. Publicly traded companies in the coal space include Alliance Resource Partners (ARLP), Alpha Natural (ANR), Arch Coal (ACI), CONSOL (CNX), Cloud Peak (CLD), Peabody (BTU) and Walter Energy (WLT).