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Arch Coal to idle Cumberland River complex

Jul. 21, 2014 4:48 PM ETArch Resources, Inc. (ARCH) StockBy: Carl Surran, SA News Editor1 Comment
  • Arch Coal (ACI) says it will idle its Cumberland River Coal complex, which includes operations in West Virginia and Kentucky, eliminating 213 full-time jobs.
  • ACI says the move is part of its strategy of shifting its portfolio toward higher-margin, lower-cost metallurgical coal operations, while retaining reserves for when market conditions strengthen in the future.
  • Cumberland River sold ~290K tons of coal in H1 2014, and ACI says the idling of operations there will lower total 2014 met coal sales volumes by ~200K tons.
  • ACI +0.3% AH.

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