| Arch Coal idles mine complex in Va., Ky. | |
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APPALACHIA, Va. (AP) -- Arch Coal says it is idling the Cumberland River Coal Company complex in Wise County, Virginia, and Letcher County, Kentucky.
Officials said Monday that more than 210 full-time positions are being eliminated by the move.
Arch Coal CEO John Eaves says the company is responding to market challenges for metallurgical coal used to make steel. Eaves said the company's strategy is to shift its portfolio toward higher-margin, lower-cost metallurgical coal operations. The mining complex had previously shuttered two contract mines during the second quarter of 2013.
Idling the operations will reduce the company's 2014 metallurgical coal sales volumes by about 200,000 tons. Arch Coal now expects to ship between 6.3 million and 6.9 million tons of metallurgical coal for 2014.
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Arch Coal Inc
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PRODUCER |
CODE : ACI |
ISIN : US0393801008 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Arch Coal is a coal producing company based in United states of america. Arch Coal holds various exploration projects in USA. Its main assets in production are WEST ELK, BLACK THUNDER and JACOB'S RANCH in USA and its main asset in development is SPRUCE N° 1 in USA. Arch Coal is listed in Germany and in United States of America. Its market capitalisation is US$ 366 000 as of today (€ 317 981). Its stock quote reached its highest recent level on June 27, 2003 at US$ 99.96, and its lowest recent point on October 04, 2018 at US$ 0.01. Arch Coal has 36 600 000 shares outstanding. |