Arch Coal has completed the acquisition of Rio Tinto's Jacobs Ranch coal mine for $764 million. For Rio Tinto, under tremendous pressure to reduce its $42-billion debt, the selling spree has just got underway. Meanwhile, rival BHP Billiton is sitting pretty with $18 billion in cash, and is eyeing 5 acquisitions. So is Western Coal.
Continue reading "Rio Tinto's Debt Gamble, BHP Builds"
Tuesday, July 28, 2009
Arch Coal Inc has sold $600 million of senior notes in the 144a private placement market, said IFR, a Thomson Reuters service. For full story, click here
Continue reading "New Arch Coal has sold $600 mln in 7 year notes"
Monday, July 27, 2009
Arch Coal Inc, one of the world’s biggest coal producers, declared that it has launched an offering of stock and notes to help fund its purchase of a Wyoming mining complex. For full story, click here
Continue reading "Arch Coal has launched Stock"
Tuesday, April 28, 2009
Arch Coal Inc.’s bleak first-quarter earnings, dismal 2009 profit outlook and output cuts sent shares tumbling for the second straight day and prompted two analysts to cut the coal company’s price target. For full story, click here
Continue reading "Arch Coal dips on dismal Q1 results, 2009 outlook"
Monday, April 27, 2009
The U.S. Interior Department has said it will try to overturn a Bush administration rule that made it easier for coal mining companies to dump mountaintop debris into valley streams. The action is the latest blow to the coal industry, which defends mountaintop mining as a safer, cheaper alternative to traditional underground mining.
Continue reading "Obama To Reverse Bush Rule On Coal"
Tuesday, March 10, 2009
Arch Coal Inc. has agreed to pay Rio Tinto Plc $761 million for a mine in Wyoming’s Powder River Basin that will allow it to significantly boost production in the nation’s biggest coal-producing area. Ramsey analyst David Khani, stated: Strategically, this makes sense since the mine is adjacent and Arch can absorb the mine very [...]
Continue reading "Arch Coal agreed to pay for Wyoming Mine"
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Thursday, October 1, 2009