The Bailey mine had a record year in 2014 and annual production was 12.3Mt, which exceeded the mines previous annual production record of 11.1Mt in 2005.

Meanwhile in Virginia, Consol’s premier Buchanan mine repeated a stellar cost containment performance.

Total costs per tonne sold at Buchanan were $US53.96 per tonne in the just-ended quarter, or a reduction of $12.64/t from the year-earlier quarter.

Consol president and CEO Nicholas DeIuliis said: “Despite the current commodity price environment, Consol continues to realise strong rates of return due to our tier-one asset base, which allows us to drive efficiency improvements and continue to benefit from being a low-cost producer.

“Consol will not only continue to manage through these types of commodity cycles, but we will also capitalise on them as well through share repurchase opportunities. Our strong balance sheet and substantial liquidity position will help fuel these types of opportunities.”