Arch Resources and CONSOL Energy Complete Merger, Forms New Company Core Natural Resources
[Click image to enlarge]
Core Natural Resources has successfully completed the merger of equals between CONSOL Energy and Arch Resources to form Core, effective January 14, 2025.
The proposals required to consummate the merger received the support of more than 99 percent of the companies’ respective stockholders present and entitled to vote at the stockholder meetings held last week.
“Today marks a milestone in the proud histories of two great companies. Through this transformational combination, we have created a global leader exceptionally well-positioned to compete and succeed in two significant, high-potential market segments — the global metallurgical and global high-rank thermal coal markets,” said Jimmy Brock, Core’s executive chair.
“Through these two core lines of business, the Core team expects to play an essential role in meeting the world’s growing steel, infrastructure, and energy requirements while driving long-term value for its many stakeholders, including stockholders, customers, employees, and the communities in which we live and work,” added Brock.
“This combination joins two proven leadership teams and best-in-sector operating platforms to create a premier North American coal producer with worldwide reach and world-class mining and logistics capabilities,” said Paul Lang, Core’s chief executive officer.
“Since the merger’s announcement, the Arch and CONSOL teams have collaborated to lay the foundation for a swift, efficient, and value-creating integration, and we fully intend to hit the ground running in capturing the combination’s substantial synergies and realizing the full potential of the new enterprise. At the same time, we will be building upon the central principles that have served as the bedrock of both Arch’s and CONSOL’s corporate cultures — a deep and unwavering commitment to safety; environmental and social stewardship; integrity; and operational excellence,” added Lang.
CORE NATURAL RESOURCES BOARD AND GOVERNANCE STRUCTURE
The Core board of directors is comprised of eight members — four directors formerly on the CONSOL board and four directors formerly on the Arch board. Jimmy Brock, the former board chair and chief executive officer of CONSOL will serve as executive chair of Core’s board. Paul Lang, the former chief executive officer and a board member of Arch will serve as Core’s chief executive officer and as a member of the Core board.
Core’s other directors are as follows:
• Holly Keller Koeppel (former Arch director)
• Patrick Kriegshauser (former Arch director)
• Richard Navarre (lead independent director and former Arch board chair)
• Cassandra Pan (former CONSOL director)
• Valli Perera (former CONSOL director)
• Joseph Platt (former CONSOL director)
CORE NATURAL RESOURCES OFFICERS
Core will be led by a proven and highly experienced leadership team. Along with Messrs. Brock, and Lang.
Core will be led by the following executives:
• Mitesh Thakkar, president and chief financial officer
• Robert Braithwaite, Jr., senior vice president, marketing, and sales
• Rosemary Klein, senior vice president, chief legal officer, and corporate secretary
• Kurt Salvatori, senior vice president and chief administrative officer
• George Schuller Jr., senior vice president and chief operating officer
• Deck Slone, senior vice president, Strategy and Public Policy
Core Natural Resources is a world-class producer and exporter of high-quality, low-cost coals, including metallurgical and high calorific value thermal coals. The company operates a best-in-sector portfolio, including the Pennsylvania Mining Complex, Leer, Leer South, and West Elk mines. With a focus on seaborne markets, Core plays an essential role in meeting the world’s growing need for steel, infrastructure, and energy, and has ownership interests in two marine export terminals. The company was created in January 2025 via the merger of long-time industry leaders CONSOL Energy and Arch Resources and is based in Canonsburg, Pennsylvania.
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2025 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
