Murray Energy and Javelin have entered into a long-term exclusive marketing agreement, whereby Javelin will be the marketing agent for all coal produced by Murray Energy’s Colombian Mines, now operated as Murray Colombian Resources, LLC.
“Murray Energy is extremely excited to have Javelin market the coal from our South American operations in the international marketplace,” said Mr. Robert E. Murray, Chairman, President, and Chief Executive Officer of Murray Energy. “Murray Energy is a premier coal producer and exporter in the international marketplace, and Javelin’s efforts only strengthens our position and our ability to serve our customers worldwide.” Mr. Murray continued.
“Murray Energy has placed their trust in us to help them carry out their strategic visions, and their acquisition of Murray Colombian Resources is a terrific fit for our ongoing marketing activities in North America, Europe, and Latin America. We look forward to serving these customers with an increasing suite of high-quality coals,” noted Mr. Peter Bradley, Chief Executive Officer of Javelin. “The low sulphur, excellent blending Colombian coal, which Murray Energy will now produce at Murray Colombian Resources, is an ideal complement to the high heating value, low cost coal from Murray Energy’s mining operations in the United States.”
Murray Energy is the largest privately owned coal company in the United States and the coal industry’s leading longwall coal producer. Murray Energy has grown through its 2013 acquisition of the Consolidation Coal Company, producing over sixty-two (62) million tons of high quality, underground mined thermal coal in 2014. This year, Murray Energy invested in Foresight Energy LP (“FELP”) and entered an agreement for the management of FELP’s operations, which produce about twenty-five (25) million tons of coal per year. Murray Energy’s combined production is now at about eighty-seven (87) million tons of underground mined coal annually, primarily from the Illinois and Northern Appalachian Basins in the United States.