Whitehaven Coal is the preferred bidder for BHP’s Blackwater and Daunia metallurgical coal mines estimated to cost up to $4.1 billion.
Ramaco Resources (METC) pre-announced earnings, providing a tight range for Net Income and EBITDA. They also revised FY 2023 guidance.
Alpha announced preliminary sales volumes and realizations for Q3 2023, and revised full year 2023 guidance.
Alpha Met reported preliminary sales volumes and realizations for Q3 2023 along with revised full-year 2023 guidance.
Teck Resources is considering more than just the highest bid for the sale of its metallurgical coal assets.
BHP Group plans to retain its remaining metallurgical coal assets, emphasizing a positive outlook for higher-quality raw materials.
Metallurgical coal markets continue to rally. Front-month (Oct ‘23) is at $362/mt, whereas long-term prices are currently in the $280’s:
Arch Resources and Coronado Global Resources have both reduced their coal sales guidance due to mining difficulties in the US.
Arch released a Q3 update, revised guidance lower, and announced their Q3 earnings call, scheduled to take place October 26 at 10am.
Met names got a lift yesterday with an update of the B Riley price deck and flow through share price target upgrades.
Now that I’ve wrapped up the forecasts for the US met producers, I figured I would share it here so that we can compare and contrast.
Whitehaven Coal is considering using $1.1bn to $1.8bn in debt to purchase BHP’s coal mines in Queensland, as suggested by UBS analysts.