BRISTOL, Tenn., Aug. 12, 2021 /PRNewswire/ -- Alpha Metallurgical Resources, Inc. (NYSE: AMR), a leading U.S. supplier of metallurgical products for the steel industry, today announced the receipt of its expected $70 million tax refund and related interest payment resulting from a net operating loss carryback claim.
The company previously disclosed its expectation of receiving the refund before year end.
"Receiving this tax refund increases Alpha's total liquidity, and we are pleased to have these funds in hand," said Andy Eidson, Alpha's president and chief financial officer. "We continue to be optimistic about our ability to build cash and reduce our debt load over the coming quarters, and we look forward to providing updates on that progress with our next quarterly earnings announcement."
About Alpha Metallurgical Resources
Alpha Metallurgical Resources (NYSE: AMR) is a Tennessee-based mining company with operations across Virginia and West Virginia. With customers across the globe, high-quality reserves and significant port capacity, Alpha reliably supplies metallurgical products to the steel industry. For more information, visit www.AlphaMetResources.com.
This press release includes forward-looking statements. These forward-looking statements are based on Alpha's expectations and beliefs concerning future events and involve risks and uncertainties that may cause actual results to differ materially from current expectations. These factors are difficult to predict accurately and may be beyond Alpha's control. Forward-looking statements in this press release or elsewhere speak only as of the date made. New uncertainties and risks arise from time to time, and it is impossible for Alpha to predict these events or how they may affect Alpha. Except as required by law, Alpha has no duty to, and does not intend to, update or revise the forward-looking statements in this press release or elsewhere after the date this release is issued. In light of these risks and uncertainties, investors should keep in mind that results, events or developments discussed in any forward-looking statement made in this press release may not occur.