CONSOL Coal Resources LP (NYSE:CCR) was founded in 2015, formerly known as CNX Coal Resources LP (formerly NYSE:CNXC), changed its current name in November 2017 and is headquartered in Pennsylvania, USA Canonsburg, a growth-oriented owner limited partnership, was recently funded by CONSOL Energy to engage in thermal coal business in Pennsylvania.
CONSOL Coal Resources (CCR):
CONSOL Coal Resources (CCR) is a growth-oriented limited partnership sponsored by CONSOL Energy. The company’s assets include CONSOL Energy’s 25% undivided ownership interest and management and control rights in the Pennsylvania mining complex.
The Pennsylvania mining complex has three underground mines-Bailey, Enlow Fork, and Harvey-and related infrastructure. The complex is a highly automated and technologically advanced underground mining operation with 767 million tons of high Btu bituminous coal reserves in the Pittsburgh No. 8 coal seam.
The Pennsylvania mining complex has 5 longwall mining systems and 17 continuous mining areas with an annual production capacity of 28.5 million tons. The mining complex also has a train loading facility with dual-track access to The Norfolk Southern and CSX, a centralized coal processing facility, and access to the maritime market through the Baltimore Marine Terminal, which is wholly owned by CONSOL.
As of May 11, 2015, the company’s contracts in Pennsylvania as of December 31, 2015, December 31, 2016, and December 31, 2017 were 7.7 million tons, 13.1 million tons and 23 million tons, respectively. .
CONSOL Coal Resources (CCR) investment:
CNX COAL RESOURCES submitted its IPO prospectus on April 1, 2015 and landed on the NYSE on 7/1/2015. The planned issuance price is US$19.0-21.0, the actual issuance price is US$15, 5 million shares are issued, and US$75 million is raised. Stock trading code: CNXC, which was later changed to CCR in 2017.