- Core Natural Resources (CNR, Financial) anticipates a fourth-quarter restart of longwall operations at Leer South mine.
- Insurance recoveries from the January combustion incident expected to exceed $100 million.
- 2025 coking coal sales volume guidance remains unchanged despite operational delays.
Core Natural Resources, Inc. (CNR) has announced updates on the ongoing recovery efforts at its Leer South mine, which experienced a combustion-related incident in January. The company re-entered the mine on June 10th and confirmed that the longwall equipment remained in good condition. However, elevated carbon monoxide levels detected on June 26th necessitated the evacuation and temporary resealing of the affected area, delaying the restart of longwall operations by approximately four months.
Working closely with regulatory officials, Core expects to complete the repositioning of its longwall equipment and resume production in the fourth quarter of 2025. Despite these setbacks, the company is confident in maintaining its coking coal sales volume guidance for 2025. This confidence is bolstered by anticipated insurance recoveries expected to exceed $100 million, offsetting the financial impact of the operational disruptions.
Core plans to provide additional detailed updates on the Leer South mine's recovery efforts in its second-quarter earnings release, scheduled for early August. Core Natural Resources continues to collaborate with federal and state regulatory bodies to ensure a safe and efficient recovery process, emphasizing the integrity of the mine's infrastructure and equipment.
