Contura to Change Name to Alpha on February 1
January 24, 2021 - Contura Energy will change its name effective Feb. 1 to Alpha Metallurgical Resources Inc., the company announced Friday.
The company, which is traded on the New York Stock Exchange under the CTRA ticker symbol is expected to begin trading under AMR on Feb. 4, according to a written statement.
Contura was formed from assets of the former Alpha Natural Resources following its bankruptcy and later merged with another former Alpha fragment.
“Over a year ago we outlined our vision to make Contura a premier metallurgical coal producer,” Chairman and CEO David Stetson said in a news release. “Thanks to the transformative work of our team over the last several months, that vision has become a reality. Bringing back the Alpha name is not only meaningful to us and our history but it also serves as an outward display to external stakeholders of the sharpened focus we have on metallurgical coal.”
At its zenith, Alpha was among the world’s largest producers of coal for both steel and power production, but overwhelming debt and the collapse of coal markets forced the company into bankruptcy in 2015. It emerged from bankruptcy in 2016.