Arch Coal Inc (ACI.N)
6 Dec 2013
|Market Cap (Mil.):||$906.44|
|Shares Outstanding (Mil.):||212.28|
- Alpha Natural Resources Inc joined rival Arch Coal Inc in forecasting lower mining costs for the year as it reins in spending to cope with weak coal prices.
* Cuts 2013 capital budget to $260 mln-$290 mln from $275 mln-$325 mln
- U.S. coal miner Arch Coal Inc on Tuesday reported disappointing third-quarter results and cut its production outlook for steelmaking coal for the second time this year while rival CONSOL Energy Inc reported earnings that slightly topped estimates due to strict cost controls.
Oct 29 - Arch Coal Inc reported a quarterly net loss due to weak prices of coal used to make steel.
(Corrects first bullet and 5th paragraph to reflect that Peabody's contribution will fund healthcare only, not healthcare and pensions)
(Adds lower sales forecast for met coal, executive's comments on conference call, share price move)
July 30 - Arch Coal Inc reported a wider adjusted net loss on Tuesday on a drop in metallurgical coal prices, though the coal miner said the outlook for the U.S. thermal coal market was improving.
June 28 - Arch Coal Inc said on Friday it had sold a group of thermal coal mines in Utah to privately held Bowie Resources for $435 million in cash as the U.S. company looks to divest non-core assets and focus on its metallurgical coal projects.