Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problem

first_img FacebookTwitterLinkedInEmailPrint分享SNL:Coal prices in the Powder River Basin are low, and the recent sale of Contura Energy Inc.’s two mines in the region is unlikely to change that, according to analysts.Seaport Global Securities LLC analysts Mark Levin and Nathan Martin estimated in a Dec. 18 note that about 93 million tons of PRB coal had yet to be priced at the end of the third quarter — about 26% of total production in the region.“We think this is one major reason why PRB production will likely come in lower than flat in 2018,” they said. “Moreover, with so much coal yet to be priced, we are beginning to believe that absent a big move in natural gas prices and/or a very cold rest of December through February, PRB producers will put out 2018 volume guidance in late January/early February that is well below flat YOY.”The analysts called Contura’s decision to sell its Eagle Butte and Belle Ayr mines to Blackjewel LLC “a good one, maybe even a great one,” noting the move reduces Contura’s balance sheet asset retirement obligation from $200 million to $83 million, frees up $25 million in unrestricted cash, create significant income tax deductions, provides $50 million in royalty payments and reduces capital expenditures by $10 million to $12 million.However, the move will not likely help prices in the PRB.More: Western coal faces declining output, stagnant pricing despite Contura mine sale Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problemlast_img read more

Man accused of murdering a Floyd County child pleads not guilty

first_imgCHARLES CITY — A New Hampton man charged with murder in the death of a child in Floyd County has pleaded not guilty. 25-year-old Shane Morris was arrested on March 9th and charged with first-degree murder and child endangerment resulting in death in connection with the death of his three-and-a-half month old child in August of last year. Court documents state that Morris was taking care of the child before being taken first to the Floyd County Medical Center and then was airlifted to the Mayo Clinic hospitals in Rochester. Medical staff observed a large bulge on the side of the child’s head with tests showing a skull fracture that was likely a result of non-accidental trauma. Morris was due in court for his arraignment hearing tomorrow, but online court records show that he filed a written plea of not guilty and a waiver of a speedy trial in Floyd County District Court today. No trial date has been scheduled. If convicted of first-degree murder, Morris would face the rest of his life in prison without the opportunity for parole.last_img read more

Bong Residents Embark on US$100K Clinic Construction

first_imgAs access to primary healthcare is already a challenge, especially in most rural parts of the country, residents of Degai Zulu Clan, in Faumah District, Lower Bong County, are doing everything possible to rescue their people who are dying from preventable diseases.The district has a population of nearly 30,000 due to lucrative mining businesses.Two sons of the area, Mustapha Shannon and Mohammed Massaley, who are not medical practitioners, have started constructing a seven-room clinic valued at US$100,000 for the district.Shannon told the Daily Observer that US$17,000 had already been spent on the project and he wants the government to help them fund the completion of the clinic.According to him, they were moved to undertake the project because of the way sick people were dying in the area due to the lack of a healthcare facility.  “Because of that we have to take our sick relatives to Bopolu City, in Gbarpolu County for treatment. Sometimes the sick person dies on the way to seek treatment,” he said. “Taking sick people to Bopolu is very expensive, especially due to the bad road conditions, so we have to pay motorbike riders L$800.”  He named children and pregnant women as the most vulnerable. “Most of our children and pregnant women have died because they were unable to get medical treatment,” he lamented.One of the most important things that Shannon stressed was the absence of medical practitioners to take care of the clinic once it is completed. “You can see we are not medical people, but because of the way our people usually die here from preventable diseases, we are putting up this project to help.”He continued, “We are going to appeal to the Ministry of Health and Social Welfare (MHSW) to assign doctors to take care of the clinic, when it is completed.”Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more