Arch Resources facts for kids
| Public | |
| Traded as | NYSE: ARCH (Class A) Russell 2000 component S&P 600 component |
| Industry | Coal mining |
| Founded | 1969 (founded) 1997 (current corporation) |
| Headquarters | St. Louis, Missouri |
|
Key people
|
Paul A. Lang, President/CEO John T. Drexler, Sr.VP/COO George J. Schuller Jr., Senior vice president and Chief Operating Officer |
| Products | Coal |
| Revenue |  US$ 2.32 billion (2017) |
|
Operating income
|
US$ 232 million (2017) |
 US$ 582 million (2017) |
|
| Total assets | US$ 238 million (2017) |
| Total equity | US$ 666 million (2017) |
|
Number of employees
|
3,790 (2017) |
Arch Resources, once known as Arch Coal, is an American company. It focuses on coal mining and processing. The company digs up, prepares, and sells different kinds of coal. This coal has a low sulfur content.
Arch Resources is the second-biggest coal supplier in the United States. It is just behind Peabody Energy. In 2011, the company provided 15% of the coal used in the country. Most of this coal is used to make electricity.
The company runs 32 active mines. It controls about 5.5 billion tons of coal reserves. These reserves are found in places like Central Appalachia and the Powder River Basin. Arch Resources has mines in Colorado, Illinois, Kentucky, Utah, Virginia, West Virginia, and Wyoming. Its main office is in St. Louis, Missouri. The company sells a lot of its coal to power plants. It also sells to steel makers and other factories.
Contents
Arch Resources: A Brief History
How Arch Coal Started
Arch Coal was created in July 1997. This happened when two companies joined together. They were Ashland Coal, Inc. and Arch Mineral Corporation. Arch Mineral began in 1969. It was a partnership between Ashland Oil and the H.L.Hunt family. Ashland Coal started in 1975 as part of Ashland Oil. After they merged, Arch became a top producer of low-sulfur coal in the eastern U.S.
Growing Across the U.S.
In June 1998, Arch Coal grew into the western United States. It bought coal mines from Atlantic Richfield. This included the Black Thunder Coal Mine in Wyoming. It also got the West Elk mine in Colorado. Plus, it gained a share in Canyon Fuel Company, which runs three mines in Utah.
Arch kept adding to its coal reserves. In October 1998, it won a bid for a large coal area. This area was next to its Black Thunder mine. In July 2004, Arch bought the rest of Canyon Fuel Company. This made its position stronger in western coal.
In August 2004, Arch expanded again in the Powder River Basin. It bought the North Rochelle mine. By combining it with Black Thunder, Arch created a very important mining area. In September 2004, Arch added more reserves near Black Thunder.
Changes and New Directions
In December 2005, Arch Coal sold some of its eastern mines. This helped the company focus and prepare for future growth. In August 2006, Arch bought a share in Knight Hawk Coal. This company was growing in the Illinois Basin.
In October 2009, Arch bought the Jacobs Ranch mine. It combined this with the Black Thunder Coal Mine. This created the largest coal mining complex in the world. In November 2009, Arch also got rights to mine more coal in Montana.
On June 15, 2011, Arch bought International Coal Group. This made Arch a top global coal supplier. It also became a major producer of coal used for making steel. In December 2011, Arch won a bid for another large coal lease in Wyoming.
Financial Challenges and Reorganization
In June 2013, Arch Coal planned to sell its Canyon Fuel Company. This included mines in Utah. In January 2016, Arch Coal faced financial difficulties. The company filed for a special type of business reorganization. This was to help reduce its debt by $4.5 billion.
On October 5, 2016, Arch Coal successfully finished its reorganization. The company got court approval to clear almost $5 billion in debt. It came out of this process with $300 million in cash. Arch Coal started trading on the New York Stock Exchange again.
Becoming Arch Resources
On May 15, 2020, Arch Coal officially changed its name to Arch Resources. In 2022, the company's stock value reached a high point. It became one of the top-performing stocks.
Arch Resources and Politics
Arch Coal PAC is a group that supports political campaigns. It has given money to election campaigns. For example, it donated to the 2004 election in West Virginia. That year, coal companies gave a lot of money to campaigns.
Company Status
In 2013, Arch was ranked number 564 on the Fortune 1000 list. This list shows the biggest companies in the United States. Arch is the second-largest coal producer in the country.
Environmental Impact and Care
Mining in Appalachia
Arch Coal uses a method called mountaintop removal mining. This method changes the shape of mountaintops. It has been a topic of discussion. In 2002, a TV show on PBS talked about Arch's mining in West Virginia. A 1998 news story also wrote about how this mining affected nearby towns.
A lawsuit in 1999 tried to stop Arch from filling valleys with mining waste. A judge ruled that burying streams would harm the environment. He said that water quality becomes zero when a stream is gone. By 2012, this type of surface mining made up about 4 percent of Arch's coal production.
Mining in Colorado
In 2015, some environmental groups started a campaign. They were against Arch Coal's mine project in a special area of Gunnison National Forest in Colorado.
Restoring Mined Land
Arch Coal used a special way to promise it would pay for mine reclamation. This means restoring the land after mining. After Arch Coal faced financial difficulties, the state of Wyoming agreed to accept $75 million. This was for the company's $486 million responsibility to restore land in the state.
Environmental Efforts
Arch Coal's operations have a good record for water quality. They reported a 99.9 percent water compliance rate. This was over a 10-year period from 2002 to 2012.
In 2012, Arch Coal received a special award. It was the Conservation Legacy Award. This award recognized Arch Coal's efforts. It honored their commitment to protecting natural resources. This included wildlife and water quality during mining and restoration.
See Also
- Coal companies of the United States
- Mountaintop removal mining
- Coal mining in Appalachia
