for and Thanks. Good morning to thanks participating. everyone
headwinds Just the opportunity the opportunity. then remain was the now over humbled I solving operating burden share costs merger, to and increasing situation. return were sure, I months this was three Contura and price since and for of given by the Blackjewel's including declining ago to There
one industry knew the experienced that the that Contura region, metallurgical and user. to mine diversified and strongest allows properties and move the a I product in vertical Central workforces end our App best in operating most the from to But reserves had of infrastructure efficiently
projects. began Board we immediate capital costs, our initiated with actions made decision-making reduce take progress return, expertise, to more to energy a on streamlined our my efficient We to Since measures to of reduced additional address challenges. four and size,
and to leading Contura approximately call. ESM, X% as the one closed this producers of in will have the metallurgical later our States, in coal with also the United We which detail shares reestablish outstanding of transaction steps taken I repurchased PRB
EBITDA down just extremely sharply and were sat of started quarter that $X with underperforming July generated results, The per the third disappointed. approximately ton. increase costs review a Andy to both financial million I $XX to saw quarter all-in When we with
our As I were as dove earlier deeper by experienced into significantly of in this industry, expectations year. the others quarter, our from below metallurgical products, pricing third our
As our trading Trading loss pricing, the their experienced in during a quarter. the result Logistics of declining group
the industry, to well our over internal a weakening pricing, demand whole, in coal from our by Contura the sales off addition as the tons as In volumes metallurgical XXX,XXX quarter. as downturn for for products, with the being budgets experienced
increase schedule demand but We on is the control longwall side you more over have do resulted in from give the our items those partially vacation over cost a equation, little quarter we no control pricing our to have color move. and the third costs. going Andy The of Cumberland's shortly. production and
to that addressing. Cumberland on recently of at will impoundment cost a a to that million. are months take at new our mine, XX we to need want brief determined I operational we relates mine it $XX an update to expected, which construct, As challenges approximately sooner the than estimated some will provide commence We of Cumberland construction
acceleration of the project comparable We of planned acceleration this expenditures. but in later require expense for will capital years, this a
approximately anticipating needs we capital Cumberland's district. reserve into million $XX we're Additionally, to continue in in develop XXXX, as new other
reducing our continue market, a will approach take closures schedules. the disciplined and We to to via very by worker output mine
have at Eagle, and activity mining at shortly ceasing surface our surface operations have example, we're we Republic, Castle. reduced Highland operations at the idled operation workforce underground For at Black Brushy highwall
his to On additional execute controls. front, changes operational plan on and cost continues Jason multiple has the for cost made
he COO. in have field enthusiasm seen mid-August came board cost our the We the and as since decrease and in operating our morale increased on
increase He our has taken to efficiency. measures
with we've seen multiple just since days per Jason this example, excess measure XXX came in averaged shift. per increases feet For July board, XXX of our in on shift. And in feet mines significant
Obviously, it levels culture. a his achieving our operating on establish our to core the flat vision level, will cost and mines at nimble make of the out of take efficiency and to execute while build the strategy high industry, team reduction fully the time Jason safest in operating
are We and to streamlined allow corporate our reviewing corporate decision-making lower SG&A. operating and for overhead
we've As I industry mentioned appointment of size Directors, Board through previously, Emily increasing reduced of the concurrently Medine. the expertise its our while of
company on on dwell regarding opportunities I'm optimistic focus could difficult future. is to throughout how the before is I they challenges any While character experienced fully The us. our lie my the situations. team headwinds respond that our XXXX, faces, understand I true of the but
largest, my best our head the challenges coal enhance in lower industry; States; market our United metallurgical company costs respond Contura so the we I'm the diversified become at to team in the shareholders, that tell streamline condition; decision-making, here to our to to and at and level. operating corporate on. quickly both the I Contura task our position strive these that to to safest, is meeting team
continue and they have of us achieve make goals and to that We some decisions executive these include following. the help
XXXX Our move to commenced mines to in high-cost mines engineered commitment the and that from the in designed, make capital validate progress lowest-cost to continue were metallurgical our and XXXX Central App. and projects these some projects of
Fork Wyoming to XX low-vol, two minutes retiring the and with Let a mine me number projects take replaced is mines. those low-sulfur Road a XX discuss that Fork Road few you.
to sections scheduled is at of to The approximately production a by per next -- X.X production of year, tons of annually $XX There start million year. approximately be additional is two is QX next late cost section recoverable run of approximately in of full QX of going year sales and into the XX million production ton. with first expected this rate
A The underground the adjacent currently a main under our plant corridor development. reserve Black of three-mile to is Eagle high-vol load-out. Black body the Eagle that end reserve, Marfork is a at of lies
QX, XXXX. XX% service transportation tons but other the for Black of will development end the complete main lie Eagle is million west portfolio corridor current coal, As also coals reserve access of Marfork contains by today, approximately numerous expected XX of is provide of the that and mines. of body that recoverable to
The tons expected feeds cost second Lynn greater added of mine B+ produce our is QX should Branch and annually reserve in Production body contains which approximately a around in X.X per which cash section XXX,XXX run rate, per tons our is million $XX ton. retiring than metallurgical to high-vol mine QX Alma will a foot. first Bandmill plant. a the that approximately reserve, XX of At tons XXXX is commence be sales of of a of section much clean 'XX. with replaced the at Branch recoverable Lynn full
to up change with an production second our and Bandmill tons Lynn of sales favorably. With a annually, X.X cost complex tons annually. of the drastically of online, we'll from met is $XX expected produce the And XXX,XXX ability mining Branch section coming million ramp to ton. installation, to will qualities have expected Upon approximately the
are We transitioned the thermal complex to also from Republic met. mine
our Historically, XXXX, approximately plan mine representing one year, for metallurgical the output. to coal Pax XX% steam-to-met. reserves In is will newly mine the Republic that bankruptcy. has even of percentages ratio to produce that has surface metallurgical produced expected towards higher and our executing the acquired continue higher property million production to 'XX modified plan and with to will Kingston our and XX% of In tons a mine the from of beyond, Jason on actions transition his per approximately coal. the XX% Blackjewel of percentage shift a currently at mine via thermal he's
the that undertaken, As met created, initiatives time situations, needs in time. of at that organization, were with any personnel departments over response hired organization specific an to
our duties organization support company. identified areas review to responsibility However, as involved the being those structure and within certain corporate family. and will reduction harder end, company eliminated the of transitioned To be others a evolves that positions with occur. made be must had of decision to holistic that that our The departments and we've in
the a tremendous our careful would team, work, of well Alpha the family with we I and transitioned the years. since management of Mark Mark back to applaud and organization. express Manno a hard him. discussions company and the devoted a adequately at discuss you. to like I with I changes with announced last can an After key confidante and throughout true several level that board. to thanks appreciate managed as we loyalty these his past mine the week a company, came the review made senior navigated public on been few difficult as has He has sacrifice has merger changes bankruptcy; energies inordinate never senior of to and over Contura amount our
the Chief December. announced, the organizational we chart his Administrative will positions Chief streamline organization. As Legal be those thank duties transition General I to Officer Counsel eliminate the and for I others Mark and departing and the will of and recently in service. Officer within all him
monumental past Jill has Her and and admirably Roger General happy merger couple that you, to these years has legal of balanced responsibilities knowledge the day-to-day General department. led from the facilitate as served report build was Kevin Jill missed. and bankruptcy, Alpha Harrison to be many matters. sales will the growth has the as I'm expertise logistics the task and he and Counsel. instrumental the sales agreed to international sales coordinated new our a join our of teams, combine a team was in business. It merger domestic and as Alpha Stanley to two tell sorely Mark with company can Counsel brand Nicholson with
Bill markets, declining want to to be will sales actively importantly metallurgical closer Dan sales moving However, that participate will of management Horn me. with and be sales the end, the and our and I our be customers on reporting forward. thermal To changing Both decisions. managing more to be in coal directly will Davison taking
responsibilities Scott work affairs Scott and Strategy an with roles including range broad important operation. to land, the company held our Chief years past of environmental attitude knowledge, the in tireless can-do asset organization Officer, for key Our been this Kreutzer has over and ethic. has
Andy, and initiatives. jointly lead our forward Jason I Going M&A will planning strategic and
company's Officer functions the years Finally, its service be to HR reporting I numerous Moore, and the Resources our her steadfast contributions Suzan and over directly Suzan's to Chief Human with made toward many for With will companies. thank Contura Andy. want her of predecessor success leadership departure,
With in to and approximately action process SG&A we the and will XXXX savings. $X the for continue above identified, we'll are reduce that million by other we others and pursue been we believe have
of process and of the additional and executing Jason team cost identified on side, operating the on reductions. million On $XX approximately have his
company, the we reduction several are currently are that On the of non-strategic actively divestment. for footprint and thermal thermal reviewing in have a exploring we operations side our
Contura I will divest focus we operations. for While an in make our metallurgical assurances my vision to our is capital can on no operation, that in fact
note, transfer our to reported we the that to similar would River a highlight on that transaction permits I last the Basin. closed month On in like we Powder
financial operational, the some our regulatory ongoing consumed of assets mode and those was it created. it critical mitigate of resources, reclamation have would While or risk capital that to operations
end the of we common quarter, price As the share. $XX.XX of X,XXX,XXX at of purchased shares the a an of third average stock company
expected for our However, reduction. with our maintaining the near focuses soft balance will primary future, of debt markets we sheet and strength objective our to shift the is
turn I'll Jason. call the to that, With over
