Murray Energy partners to form new company

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A new international commodities marketing and trading enterprise, Javelin Global Commodities Holdings, has been formed by three groups which are
recognized as among the leading coal marketing and trading, coal production and sales, and electric power generation entities in the world.
The new London based Company will be owned by veteran worldwide marketing and trading individuals, Murray Energy Corporation of the United States, and E.ON Global Commodities SE (“E.ON”) of Germany.
While the primary focus of the new venture will be on coal and electric power, there will be expansion into other commodities. Murray Energy is the largest privately owned coal company in the United States, and E.ON is one of the largest investor-owned electric power and gas companies in Europe.
Javelin has entered into a long term export marketing and domestic advisory agreement with Murray Energy and a long term hedging and credit line with E.ON. Murray Energy, the leading U.S. longwall coal producer, has grown through its 2013 acquisition of the Consolidation Coal Company, producing more than 62 million tons of high quality, underground mined thermal coal in 2014.
This year Murray Energy invested in Foresight Energy LP and entered an agreement for the management of FELP’s operations, which produce about 25 million tons of coal per year. Murray Energy’s combined production is now at about 87 million tons of coal annually, primarily from the Illinois and Northern Appalachian Basins. Murray Energy also has mines in Utah.