ST. LOUIS, Feb. 14, 2019 /PRNewswire/ — Arch Coal, Inc. (NYSE:ARCH) announced today that it has commenced development of a new, world-class longwall mine in Barbour County, West Virginia, that will produce an estimated three million tons of premium, High-Vol A coking coal annually for sale into an undersupplied global marketplace. The new mine, Leer South, will be similar in virtually every respect to Arch’s existing Leer longwall mine, and will operate in the same 200-million-ton reserve base as the Leer operation. The Leer mine is widely regarded as one of the lowest-cost, highest-quality and highest-margin coking coal mines in the U.S. coking coal industry. “We are excited about this new project, which we view as transformational for Arch Coal and its shareholders,” said John W. Eaves, Arch’s chief executive officer. “With the addition of Leer South, Arch will greatly enhance its portfolio of world-class coking coal assets, and cement our position as the premier global producer of High-Vol A coking coal. We believe there is significant, unfulfilled global demand for High-Vol A coking coal generally, and our Leer brand specifically, and are already engaged in discussions with leading steel producers around the world that are eager to secure additional… Read full this story
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