Sev.en Energy acquires Blackhawk Mining to significantly strengthen its presence in US metallurgical coal mining
Press Release
Lexington, Prague; June 1, 2020 – Sev.en Energy AG is pleased to announce that it has acquired US metallurgical coal producer Blackhawk Mining, LLC.
Blackhawk Mining is one of the largest US metallurgical coal producers. With annual production capacity of 7-8 million tonnes of metallurgical coal among its five underground and open pit mining complexes in West Virginia and Kentucky, Blackhawk Mining is an important supplier of metallurgical coal both locally and internationally. It also owns three thermal coal mine complexes producing 3-4 million tonnes per annum. In 2019, Blackhawk Mining had $1bn revenues and $120m EBITDA.
“This is a significant step for Sev.en Energy as the Group ventures fully into the metallurgical coal mining industry. Blackhawk is a great company with highly productive Tier-1 assets and large coal reserves. We look forward to working with Blackhawk, its management and employees to secure the long-term success of the company and establish a platform for further growth in the region,” said the Executive Director of Sev.en Energy – Alan Svoboda, who is leading the international expansion of the Group.
“This is an exciting time for Blackhawk Mining,” explained Jesse Parrish, Blackhawk CEO. “With the support of Sev.en Energy, Blackhawk is well positioned to navigate the current market environment and pursue synergistic growth opportunities in the sector. We will remain focused on the safety and well-being of our employees and committed to our partnerships with customers and vendors. We look forward to integrating into the Sev.en Energy portfolio and working with its team of industry leading professionals to attain new levels of success.”
Sev.en Energy currently owns coal mining and power generation assets in the Czech Republic, in the United Kingdom and in Australia. In the Czech Republic it is the largest privately-held operator of coal mines and conventional power plants with more than 3,500 employees.
Sev.en Energy acquired in 2019 additional power generation assets from Swiss energy group Alpiq AG. It included two Czech coal-fired power plants in Kladno and Zlín with installed capacity of 588 MWe and 1,342 MWth.
Further to its current portfolio, Sev.en Energy also agreed to take over the largest coal plant in the Czech Republic with installed capacity 1000 MW from the Czech incumbent electricity producer and distributor – CEZ a.s.
Last year Sev.en Energy acquired a 50% stake in the multinational energy company – InterGen N.V., which is one of the leading independent power generators with gas-fired power plants in the United Kingdom and and coal-fired power plants and coal mines in Australia, with total installed capacity of around 3,300 MW.
When pro-forma aggregated with the financial results of InterGen and Alpiq CZ (recently renamed to Teplárna Kladno), Sev.en Energy group combined revenues in 2019 were EUR 1,4 billion and EBITDA of EUR 319 million.
Sev.en Energy’s first venture in the metallurgical coal industry was its acquisition of a 17% ownership interest in Corsa Coal in May 2020.
Contact:
Gabriela Sáričková Benešová
Spokesperson for the Sev.en Energy group
Tel: +420 476 203 141
GSM: +420 725 327 758
e-mail
www.7energy.com
