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Cloud Peak coal production down sharply in second quarter

first_img FacebookTwitterLinkedInEmailPrint分享S&P Global Market Intelligence ($):Data reported to federal officials suggests Cloud Peak Energy Inc. could post a weak second quarter in the face of ongoing domestic coal pricing pressures.Cloud Peak’s three coal mines reported 11.6 million tons of coal production in the second quarter, down 3.7% from 12.1 million tons in the prior quarter and falling 17.8% from the 14.1 million tons of coal produced in the second quarter of 2017, according to data reported to the U.S. Mine Safety and Health Administration. It was the lowest production quarter for the company since its IPO in 2009, Seaport Global Securities LLC analyst Mark Levin wrote in a July 16 note.“While [the second quarter] is typically a weak quarter for all [Powder River Basin] producers, we think [Cloud Peak’s] production, even by those standards, is a disappointment,” Levin wrote. “We suspect low natural gas prices, coal plant retirements, and increased use of renewables continue to weigh on demand.”Levin added that while export markets are a bright spot, that does not offset underlying concerns about domestic demand for Powder River Basin coal. He reiterated a neutral rating on the company.MSHA data shows quarter-over-quarter production increased by more than a half a million tons at Cloud Peak’s Spring Creek mine, which is where the company generally sources the coal it sells into export markets. However, the company’s domestic utility-focused Antelope and Cordero Rojo mines both significantly lowered coal production compared to the same quarter a year ago.More ($): Coal production from Cloud Peak Energy mines down sharply in recent quarter Cloud Peak coal production down sharply in second quarterlast_img read more

Black Stars captain Andre Ayew congratulates new GFA President Kurt Okraku

first_imgBlack Stars captain, Andre Ayew, has congratulated the newly-elected President of the Ghana Football Association.In a brief tweet, Andre Ayew said: “Congratulations to our new GFA president Mr Kurt Okraku”Dreams FC Chief Executive Officer (CEO), Kurt Okraku, has been elected the new President of the Ghana Football Association (GFA).Mr Okraku fills the spot vacated by former GFA President Kwesi Nyantakyi who resigned in 2018 following damning revelations against him in an exposé by investigative journalist Anas Aremeyaw Anas.Okraku led the way after the first round of voting and was a vote away from becoming the new President of the Association after the second round.He polled 59 votes representing 50% of votes cast with candidates needing at least 60 votes to win.George Afriyie, who polled 40 votes in the first round improved to 43 votes but was still well behind Kurt Okraku.Nana Yaw Amponsah saw his tally slashed from 27 in the first round to 16  in the second.However, as delegates were voting in the third round, George Afriyie conceded, saying he was “a unifier and a team player who works for football.”In the third round, Okraku was endorsed by 93 delegates.Kurt Okraku thus becomes the 7th GFA President since 1992 and the 24th in the Association’s history.Amanda Clinton and George Ankomah both dropped out in the first round with 0 votes.Fred Pappoe also opted to pull out after polling six votes.Kurt Okraku has also received congratulatory messages from the president, Nana Addo Dankwah Akufo-Addo, Parliament’s Minority and football’s world governing body, FIFA.He will now serve a maximum of two four-year terms in office following the adoption of the new statutes GFA at September’s Extraordinary CongressThe statutes were approved with an almost unanimous endorsement from the delegates. What are Kurt’s plans?In his manifesto, dubbed “Game Changer”, Kurt Okraku stated that he intended to work toward changing the fortunes of Ghana football and giving it a new lease of life.The manifesto was premised on four key areas or principles:Transparency, Accountability and Annual Audit;Gender and Equity;Good Corporate Governance;Professionalism, Innovation and Investmentlast_img read more