Contura Energy has updated its preliminary fourth-quarter 2016 earnings report and shed more light on the boost in metallurgical coal prices seen at the end of the year.
In a release late Friday, the miner reported Central Appalachian met coal sold for an average realized price of $120.08/st in Q4, almost 21% higher than the $99.41/st average spanning the company's formation July 26 through the end of the year.
As of March 7, Contura said it had 2.4 million st of CAPP met coal committed this year at an average price of $124.98/st FOB mine.
The company's trading and logistics segment, which includes an ownership stake in the Dominion Terminal Associates terminal, shipped coal at an average price of $153.68/st in Q4, up from $106.96/st for the year.
Coal prices from Contura's other US basins saw some strengthening in Q4 but values were relatively flat through the year. Coal from the company's Powder River Basin mines averaged $10.88/st in Q4, up from $10.83/st for the year; and Northern Appalachian coal averaged $45.70/st in Q4, up from $45/st for the year.
Contura said it has 29.3 million st of PRB coal committed for this year at an average price of $11.35/st and 7.9 million st of NAPP coal at an average of $42.80/st.
