US miner Corsa Coal to focus on met coal with thermal coal divestment

London (Platts)--8 Mar 2018 323 pm EST/2023 GMT

US miner Corsa Coal is selling its thermal and industrial coal division in Central Appalachia to focus purely on metallurgical coal, where it is growing production of low-vol coal and sales, it said Thursday.

Corsa will sell the CAPP assets to a group led by the company's current management team, with Hunter Hobson the division's president.

TSX Venture Exchange-listed Corsa operates coking coal mines and facilities in Pennsylvania and Maryland, and supplies coal directly and via traders to customers in Europe, Asia, and South America, as well as the US.

"The sale of our CAPP division will allow us to dedicate all of our corporate resources to the metallurgical coal market, where we believe we can achieve the highest rates of return on investment," Corsa CEO George Dethlefsen said.

"Corsa's focus going forward is to aggressively increase its metallurgical coal production, maximize value added services activity, and continue to grow our metallurgical sales and trading platform," he added.

Keith Dyke, former president of the company's CAPP division, and the buyer received financing from entities controlled by a member of the Robertson family, it said.

The Robertson family controls the general partner of Quintana Energy Partners and its affiliated investment funds. Quintana currently controls around 41% of Corsa Coal's issued and outstanding common shares.

--Hector Forster,
--Edited by Keiron Greenhalgh,

Request a free trial of: Coal Trader Coal Trader
Coal Trader

Coal markets are changing in ways no one could have imagined. To remain competitive, you need to know where coal markets stand. Get essential information for traders, risk managers, analysts and other professionals who need unbiased information for short- and long-term action and analysis on the coal markets. Platts Coal Trader, supplemented with Platts Coal Trader Analytics, helps you:

  • Make better informed business decisions
  • Keep up with daily price fluctuations and market moves
  • Find out what trades are occurring and the price and quantity
  • Hedge better with NYMEX prices and financial settlements
  • Learn more what affects the market, and find details about mergers, acquisitions, and new players
  • and more.
Request a free trial More Information

Related News & Analysis

Latest Platts videos News features Commodities Spotlight podcast archive

Related Products & Events

Coal Trader

Copyright © 2018 S&P Global Platts, a division of S&P Global. All rights reserved.