call. everyone, Good joining for morning Jeremy. thanks and Thanks, to the
financial twice were, driver since business, of was QX. almost the amount We below This into that but $XX in first in we dropped index-priced. against QX XX% printed the export in $XX quarter detail was lower March when was which a expectations. almost Jeremy on QX. particularly by million metrics, go shipped which main They ton of us export, EBITDA will over Our our results QX realized hit XX% or prices. our course, of
We quarter growth, maintain our cost year. mind, both issues the and will greater and year. improve discipline, labor our from confident geology tough have Elk productivity. last I'm expectation at Creek also current conditions. in cost with of results the from combination come that With continued This mine production continued dealt for that to improvements in throughout a we guidance will
there the grew we play the ton XXXX XX% to in sales production expect by million somewhat the at different X year of said I larger annualized may half a or 'XX. are release, by our it looks X much the tons QX company and our tons in back like to from were current XX% ramp a fashion. rate. basically in out X parallels second bifurcated we million an very in similar half. million with earnings X Why? year. run of a As million performance end now year, in Last additional and and both by production Essentially, We
see a combination In also in will of will production from note numbers. levels growth talk briefly X Later, new a to of cost our mining XX% we in detail production better I initiatives. reduce 'XX going guidance by a about we're in of and to the will moment. near-term each the balance conditions back as year, 'XX We against reduction also CapEx meaningful
estimated to to tons of as adding we low-volt with will in ton. at cost Alma of with Ram That in ton, these miner another the Highwall $XX up costs roughly All well a of be third add main a we're coal in metrics XXX,XXX from mine. #X XXX,XXX add Elk Creek, production rather thicker $XX is running of new currently will on at annualized from costs annualized them and similar surface Berwind approximately roughly third In production midyear, on approximately section a and are mines by $XX will starting Both mine, as timing the additional track tons the a now the In summary and Stonecoal section. mine the section. in cost budget. we both QX, ramp a brief the per new expecting
on of the we ton eliminate prep have to about trucking year-end. before Lastly, will $XX track are costs. current operational per This Maben plant fully
an back producing should the in X almost of collectively, half, annual be million we on So basis more. and selling tons
cost production And second half. new average mine ton. decline overall at combined this our $XXX mines, will this well we the with meaningfully should have productivity anticipate per an other below in cost gains is Importantly,
quarter, and the annual ton. goal the year ton element million baked moved line technical and to since mineral almost bottom In a cost on target. exploration original an is cost number we sell doubled rare a Our earth $XXX produce fronts. at below issued X On is $XXX 'XX rate. business, ago. report our full-year cash estimates Rio March, a we to and or on per Rio per into $XXX report now a our earth of from at updated tonne concentration Both basically last have of cash forward International spoke exit guidance last volumes This
deeper currently samples. also depths and are test cores drilling more larger We mining at
Also, lithologies number part banned deposit per anticipate are and we X are X of last called contain germanium. semiconductors. larger. of exceeding critical coal. are note. do, the numbers There Both deposit get matters estimated will I'd PPM. high-value to is concentrations X,XXX Rios maximum minerals year. million we gallium As in showed XX% the from This China There on to that now these a by includes used export like These were
minerals these the natural We of are of U.S. one have in supplies now estimated to largest the
XXX first conference lot call of many REE ] who new back of faces. the with April, held wheel our buy participated, the familiar and Investor We who would people both side. thank nearly we the both sell of were a the the On [ new and inaugural to all in like report
are progress the as this We terms chemical developing Brook as geological of of later mine the the preliminary our the of at assessment analysis and separation gears. still and continuing well completion techno-economic in the analysis expect to year. Switching ROEs, we
Jeremy touch terms overall remarks. some of details his the in market, In will met on
as prices, said, ton. the In coal roughly by the first $XX $XX alone, fell met a However, accelerated by March throughout quarter. I drop
shipments. decline was was of row. the price seasonal largely had unfortunately, in now March we first-quarter the buying years the back majority a occur on I mentioned, for As when last export in which muted X QX we've of influences, our This seen
news, is appears however, Some levels to that stabilized year's again have at once similar to good pricing lows. last
increased On Asian activity seen of customers. the demand recently several have from buying we our front,
to coal that silver overall frankly is This levels. side, the have the seem cap year-to-date, supply and some with down the price current recent closures down Virginia is losing stabilized. reflected On closure of about us production decline labor The in of with XX%. Southern lining these money West XX% is higher-cost markets down are that at near Virginia, about mines
have pressures up seem a wage As to our hiring result, and declined. has picked
number steel markets which year and in may pricing. expect macroeconomic factors across to a both this met Chinese this supply lower that show driven to the and exports, supply may always domestic glut demand the chain. region, weak in demand are them of by nutshell, optimistic some led that are There of caused whole steel been the the increase has lead a rebound. factors, margins has which turn half the resiliency prices we're In we squeezed to which year, Although their back has steel across
a know, consumer-related the industries real infrastructure. less energy has in been and at spending toward on shift building out transition China estate As expense traditional of we and
that expect Looking second in are corresponding forward, may year uptick of met steel overall markets rebound there coal half the however, pricing. a the Asian reasons with the in to
expectation project issuances. accelerated in demand recent funding downstream to of due First, growing a there's via improving bond China,
equal business. India is This both aspect China's larger and buying price. even Chinese may the have patterns be on markets as weight the than In more now greater addition, on progressively in this impacting role seen market a One India forward. move seasonal global had influence has or we that of met we've influence the
QX As seems to approving to infrastructure China activity. the of during an a And their spending. a ahead seems quarter, the infrastructure there elections softer is restock has example, new year, Also of construction added taking India which election be to in for To this are more QX. buyer place this in projects prohibition Indian season season. note, QX aggressive monsoon
July. in seasonal impact. Therefore, we somewhat post-election, another India's expect we as adds a uplift pullback this recent an beginning So demand one, and of view
not this it from step continued some a of muted us Australian at picture some to mines. closure production the demand, the and with some So forward U.S. we the international in some should weeks, knock-on increased impact have economy in I've second the as the year. strength the of Indeed, seen interest half. also if back up we customers. pick over we price see both back of leads we mines Asian demand discount feel from optimism that older demand And few sales the shows higher-cost against couple and issues the said of may half supply to some last This in our the U.S. backdrop
packages impact of last spending from from come and passed onshoring multiple reshoring the might this stimulus year or energy expect of combined rollouts We resulting fiscal the projects. transition related the
to size closed an of increases revolver the our we has ultimate basic million. size increase $XX $XXX million. KeyBank-led recently the financial accordion the on to It $XXX to front, revolver a of agreement from with which an our facility Lastly, million term and million size $XXX feature, syndicate. takes the This existing additional both the
the our validation we detail strong to moment. down will operations, in the and meet balance to Jeremy that now production X finances, requirements. initiatives. our appreciate like this years view normal continue sales the thank, the especially over we would look of extended to of and credit our sheet. to our we debt course and as at conservative and flexibility want 'XX, I over also KeyBank the pay to I all a with until larger working to and a year, facility Ramaco would of that, as coming will as XXXX.As We we note our syndicate to of of over term the of the from having markets. continued a basically culture With long-standing to years, had rest the the term line well that, for members the their facility I growth turn X floor of closing growth long I as discuss upsize support end capital team In
with Jeremy, So financial begin please a on our metrics. rundown
