Corporate News Blog – CNX Coal Resources Partners with OMNIS Bailey to Build First Solid Energy Refinery Plant

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LONDON, UK / ACCESSWIRE / September 8, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for CNX Coal Resources L.P. (NYSE: CNXC), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CNXC. The Company announced on September 06, 2017, that it has entered into a partnership with OMNIS Bailey, LLC to build a first solid energy refinery plant, for the processing of waste coal at CONSOL’s Bailey Mine Complex and converting it into high-quality Clean Carbon Fuel (CCF). For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Nonmetallic Mineral Mining industry. Pro-TD has currently selected Dominion Diamond Corporation (NYSE: DDC) for due-diligence and potential coverage as the Company reported on September 06, 2017, its financial results for Q2 FY18 which ended on July 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Dominion Diamond when we publish it.

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Benefits of Energy Refinery

In May 2017, a pilot plant was constructed at the Bailey Central Preparation Plant for allowing the optimization of the production process and commercial-scale testing of CCF. Successful testing of the process is likely to provide certain additional benefits, such as:

Additional Revenue – The plant is expected to provide additional revenue streams from the sale of CCF and certain other byproducts having potential agricultural applications.
Reduction in the need for future fine coal refuse impoundments – The processing of the waste coal will result in the reduction of the environmental footprint of the Company’s operations by eliminating, or greatly reducing, the need for future fine coal refuse impoundments.

CNX to have a CCF Product that can be used for Enhancing Energy Content

Jimmy Brock, Chief Executive Officer (CEO) of CNX Coal Resources, expressed his excitement to partner with OMNIS Bailey, as the latter’s technology development program has shown promising progress toward enabling alternative uses for coal byproducts.

Jimmy further added that following successful pilot testing and scale-up of the refinery, the Company is optimistic to have a CCF product that can be used to further enhance the energy content and performance characteristics of its already high-Btu, high-quality coal product. This project also represents a major step in-line with CNX Coal Resources’ stewardship commitments to reduce its environmental footprint by eliminating the future need for fine coal refuse impoundments.

OMNIS Bailey Creating Marketable Products from Coal Waste that Offers Significant Benefits to the Society

Charles Gassenheimer, CEO of OMNIS Bailey, stated that the impurities that are being removed from coal are really fossilized mineral matter from plants. After several years of testing at USDA facilities, this topsoil has been shown to remediate mineral-depleted farmland, leading to both enhanced plant growth and nutritionally-superior food. Charles believes that the Company is creating two marketable products from coal waste that offer significant benefits to the society: cleaner energy and better food.

About CNX Coal Resources L.P.

Founded in 1860, CNX Coal Resources is a Pittsburgh-based, growth-oriented master limited partnership which is focused on managing and growing its thermal coal operations. The Company owns 25% undivided interest and operational control over CONSOL Energy’s Pennsylvania mining complex, which is comprised of three underground mines: Bailey, Enlow Fork, and Harvey, and related infrastructure.

About Bailey Mine Complex

The Bailey Mine Complex located in Greene and Washington counties, Pennsylvania, is the largest underground coal mine complex in North America and also among the safest and most productive complexes in the world.

Last Close Stock Review

CNX Coal Resources’ share price finished yesterday’s trading session at $15.20, slightly up 0.66%. A total volume of 20.55 thousand shares have exchanged hands. The Company’s stock price advanced 1.00% and 6.89% in the last six months and previous twelve months, respectively. Shares of the Company have a PE ratio of 9.95 and have a dividend yield of 13.49%. The stock currently has a market cap of $346.56 million.

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