Kentucky's Premier Met Coal Producer
Carbon Energy Holdings, LLC is a Kentucky-based metallurgical coal producer with seven fully-permitted mine sites in Pike County, KY — one of the world's most productive metallurgical coal regions.
CEH controls 18.2 million tons of permitted metallurgical coal reserves plus an additional 25 million tons of unpermitted metallurgical coal across three seams. Our vertically-integrated model covers mine development and direct sales to domestic and export markets. Founded and led by Billy C. Smith, CEH is actively producing and positioned for rapid multi-site expansion.
Seven Fully-Permitted
Mine Sites
59,000 Tons / Month
| # | Mine Name | Location | Coal Seam | Monthly Tons | Status | Production Date |
|---|---|---|---|---|---|---|
| 1 | H1 Hardy | Hardy, KY | Alma / Upper Alma | 8,000 | Active | Active |
| 2 | H2 Hardy | Hardy, KY | Alma / Upper Alma | 6,000 | Development | 07/2026 |
| 3 | H3 Hardy | Hardy, KY | Alma / Upper Alma | 15,000 | Development | 12/2026 |
| 4 | Prime | Pike County, KY | Pond Creek | 4,000 | Development | 12/2026 |
| 5 | Alloy | Pike County, KY | Pond Creek | 5,000 | Development | 07/2026 |
| 6 | JC1 | Pike County, KY | Alma | 15,000 | Development | 01/2027 |
| 7 | Prime Upper Alma | Pike County, KY | Upper Alma | 6,000 | Development | 01/2027 |
| Total Monthly Production (1 Shift) | 59,000 | |||||
18.2 Million Tons in Reserve
CEH holds 18.2 million tons of fully-permitted metallurgical coal reserves across three seams, plus an additional 25 million tons of unpermitted metallurgical coal — representing decades of production capacity in one of Appalachia's most productive coal regions.
| Coal Seam | Permitted Tons | Coal Quality | |
|---|---|---|---|
| Alma SeamSpecialty Coal | 8,200,000 | Metallurgical / Industrial Coal | |
| Upper Alma SeamSpecialty Coal | 6,800,000 | Metallurgical / Industrial Coal | |
| Pond Creek Seam | 3,200,000 | Metallurgical | |
| Total Reserves | 18,200,000 | ||
Metallurgical coal was designated a U.S. Critical Mineral in November 2025, underscoring its strategic importance for steel production, infrastructure, semiconductors, and rare earth processing.
$34–$102 Profit Per Ton Delivered
Delivered cost vs. market price of $125–$200/ton creates a strong, sustainable margin at all price points.
Phase 1 = Increase to 59,000 Tons/Month
H1 Hardy mine (H1 Site, Hardy KY) actively producing on the Lower Alma seam. Immediate cash flow from 8,000 tons/month.
Mines #2 (H2 Site) and #5 (Alloy Energy) commence operations, adding 11,000 tons/month.
Mines #3 (H3 Site) and #4 (Prime Site) come online, adding 19,000 tons/month.
Mines #6 (JC1 Site) and #7 (Prime Upper Alma) begin production, reaching full capacity of 59,000 t/mo on 1 shift of production.
The Investment Case for Carbon Energy Holdings
Active Production & Immediate Cash Flow
Mine #1 is actively producing today. Investors benefit from existing operations while the portfolio scales.
Low Operating Cost
$90–$98/t operating cost in a $125–$200 Market Price creates a durable, wide margin.
$34–$102 Profit Per Ton
Strong profit at all price scenarios — from conservative to upside — providing downside protection.
U.S. Critical Mineral Designation
Metallurgical coal was designated a U.S. Critical Mineral in November 2025, driving policy support and demand.
Ramp up to 59,000 t/mo by January 2027
All seven mines are fully permitted. Scaling from current production to full buildout capacity by January 2027.
Macro Tailwinds
Infrastructure spending, steel demand, semiconductor manufacturing, and rare earth processing all require met coal.
Powering Global Infrastructure
and Technology Needs
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