Cloud Peak Energy

Cloud Peak Energy
Traded as NYSE: CLD
S&P 600 Component
Website cloudpeakenergy.com

Cloud Peak Energy Inc. (NYSE: CLD) is a firm headquartered in Gillette, Wyoming which mines coal in the Powder River Basin. The company was formed as a corporate spin-off from Rio Tinto Energy America in 2009. [1][2] In its 2009 Annual Report Rio Tinto stated that it held a 48.3% stake in Cloud Peak Energy and its directly owned mines.[3] Cloud Peak Energy also has a 50% stake in the Decker Coal Company, which operates the Decker Mine in Montana. [3]

Operations

The firm operates three open pit mines from thick deposits in Wyoming and Montana.[4]

Crow Nation

The firm has contracted with the Crow Nation to mine 20 million tons of coal annually on its reservation for shipment by rail to coal terminals in the Pacific Northwest for shipment to Asia. The project is called the Big Metal Project after a legendary Crow chief.[5] Big Metals Coal is a wholly owned subsidiary of Cloud Peak. The facilities of Cloud Peak's Spring Creek Mine are located directly to the east of the reservation and will be available for the use of Big Metal.[6]

Notes and references

  1. ↑ Rio Tinto, "Rio Tinto completes 100 per cent divestment of Cloud Peak Energy with fully exercised over allotment", Media Release, December 22, 2010.
  2. ↑ Cloud Peak Energy, "Cloud Peak Energy Inc. Announces Full Exercise of Over-Allotment Option by Underwriters in Secondary Offering of Common Stock on Behalf of Selling Shareholders", Media Release, December 21, 2010.
  3. 1 2 Rio Tinto, 2009 Annual Report: Production & reserves: Group mines: Energy", Rio Tinto website, 2010.
  4. ↑ "Operations". Cloud Peak Energy. Retrieved July 21, 2013.
  5. ↑ "Crow Tribe Signs Coal Deal Supporting Exports: Feds approve 1.4B ton coal deal with Crow Tribe". U.S. Coal Exports. Associated Press. June 20, 2013. Retrieved July 21, 2013.
  6. ↑ "Home page". Website Big Metal Coal. Big Metal Coal. Retrieved July 21, 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.