Alpha Natural Resources
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| Private | |
| Industry | Metals and Mining |
| Founded | 2002 |
| Headquarters | Kingsport, Tennessee, United States |
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Key people
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David J. Stetson (CEO, Chairman) |
| Products | Coking and steam coal |
| Revenue | $3,917.156 mil (2010) 57%89% coal,8.5% freight |
| $95.551 mil (2010)64.7%
|
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| Total assets |
 US$5.17928 bil (Dec'10) |
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Number of employees
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3,000 (6,400 before Massey merger) |
| Divisions |
Foundation Coal (since 2009) Massey Energy (June 2011) |
| Website | www |
Alpha Natural Resources is a large American producer of metallurgical coal ("met coal") for the industrial production of steel and iron and low-sulfur thermal coal ("steam coal") to fuel steam boilers for the production of electrical power. The company also provides industry services relating to equipment repairs, road construction and logistics with domestic operations and coal reserves within the states of Virginia, West Virginia, Kentucky, Wyoming, Utah, Illinois, Tennessee, and Pennsylvania. Alpha Natural Resources doesn't produce all of the coal it sells; much of the coal sold by Alpha Natural Resources is purchased from independent mining operations and then resold in the worldwide market.
The 2009 takeover of Foundation Coal also provided Alpha Natural Resources with the ability to directly access the Cumberland Mine Railroad and to rail transport coal in Pennsylvania.
Alpha Natural Resources was first established in 2002 by management (original CEO Michael Quillen played a major role) and First Reserve Stockholders (though it officially incorporated in November 2004). Around the same time it made its first major acquisition, The Brink's Company's Virginian coal business for $62.9 million (Virginia is currently a significant source of primary production). Immediately after that it took over Coastal Coal Company (Jan 2003) followed by American Metals and Coal International's coal business (March) and Mears Enterprises, Inc (November).
Alpha Natural Resources as it exists today primarily as the result of two mergers, one in July 2009 (Foundation Coal and Alpha Natural Resources, Inc.) and another January 31, 2011 (US$7.1 billion acquisition of Massey Energy).
Alpha Natural Resources filed for an IPO during December 2004 in an attempt to raise US$250 million to repay debt (strong coal prices also affected the timing of it). At the time coal was selling for about a quarter the price of natural gas ($1.5 versus $5.0 per million BTU) however since then (mid-2010) the ratio has become much smaller (coal has tripled in price to $4.63/mil BTU while gas is still at $5.189). (natural gas is used as an alternative to thermal coal in electricity production).
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Wikipedia