BRISTOL,
Tenn., Sept. 13, 2022 /PRNewswire/ -- Alpha
Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier
of metallurgical products for the steel industry, is scheduled to
present today at the 35th Annual Credit Suisse
Specialties and Basics Conference in New
York City.
In connection with the conference presentation, the company is
providing an update regarding its ongoing domestic sales
negotiations and the commitments secured for 2023. As of today,
Alpha has committed approximately 4.5 million tons of metallurgical
coal to domestic customers for shipment in calendar year
2023.
David Stetson, Alpha's chairman
and chief executive officer, commented on the news: "Thanks to the
diligent efforts of our sales team, I am pleased to announce that,
as of today, roughly 4.5 million tons of Alpha coal have been
committed to domestic customers for delivery in 2023. Since further
discussions remain ongoing, we will refrain from commenting on
pricing until later this year, likely in connection with our third
quarter earnings disclosures. Domestic commitments for the upcoming
year are always part of our strategic sales planning as they
provide an excellent foundation—and even a hedge of sorts—on which
to build the rest of our book. I am pleased that Alpha has already
secured a meaningful portion of our business for the coming year,
and we look forward to providing these tons to our valued
customers."
Additionally, the company continues to buy back shares of its
common stock through the $600-million-dollar repurchase program authorized
by Alpha's board. As of August 31,
2022, the company has acquired 2,273,390 shares of
common stock at a cost of $326.2
million.
About Alpha Metallurgical
Resources
Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations
across Virginia and West Virginia. With customers across the
globe, high-quality reserves and significant port capacity, Alpha
reliably supplies metallurgical products to the steel industry. For
more information, visit www.AlphaMetResources.com.
Forward-Looking
Statements
This press release includes forward-looking statements. These
forward-looking statements are based on Alpha's expectations and
beliefs concerning future events and involve risks and
uncertainties that may cause actual results to differ materially
from current expectations. These factors are difficult to predict
accurately and may be beyond Alpha's control. Forward-looking
statements in this press release or elsewhere speak only as of the
date made. New uncertainties and risks arise from time to time, and
it is impossible for Alpha to predict these events or how they may
affect Alpha. Except as required by law, Alpha has no duty to, and
does not intend to, update or revise the forward-looking statements
in this press release or elsewhere after the date this release is
issued. In light of these risks and uncertainties, investors should
keep in mind that results, events or developments discussed in any
forward-looking statement made in this press release may not
occur.
INVESTOR & MEDIA CONTACT: EMILY O'QUINN
InvestorRelations@AlphaMetResources.com
CorporateCommunications@AlphaMetResources.com
(423) 573-0369
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SOURCE Alpha Metallurgical Resources, Inc.