Mobile equipment is being redeployed and a shovel has been transferred from the Cordero Rojo mine to the Antelope mine with a dragline to follow.
Transfers of employees between sites and normal attrition have allowed the company to complete the reduction without any layoffs.
Improved shipments by Cloud Peak’s three operating mines for the fourth quarter of 23.3Mt resulting in full year shipments of 85.9Mt as mine operations were able to increase production and rail services improved.
Operating cost controls resulted in a reduction in full year cost per tonne to $US10.19 in 2014 from $10.23 in 2013. Fourth quarter cost per tonne was $9.32 for 2014 compared to $10.04 for 2013.
The company reported an adjusted EBITDA of $201.9 million compared to $218.6 million for 2013. Its fourth quarter adjusted EBITDA was $71.6 million for 2014 compared to $62.1 million for 2013.
Cloud Peak CEO Colin Marshall said: “I am pleased with our financial and operational performance this year in the face of a challenging external environment.
“Particularly impressive was the mines’ ability to reduce costs and control capital expenditures despite rail constraints, which reduced our shipments throughout the year. As a result, we were able to deliver adjusted EBITDA slightly above our updated third quarter guidance and finish the year with a strong cash position.
“While 2015 will hold challenges for US coal producers, I am confident Cloud Peak Energy is well positioned to successfully navigate this environment.”
