TMS Awards 2023CimbriaTBA GroupBühler GmbHViganSailors Society
  • Cimbria
  • Vigan
  • Port of Stockton
  • Sailors Society
  • Port of South Louisiana
  • TBA Group

Arch Coal changes name to Arch Resources

Arch Coal changes name to Arch Resources

(Posted on 06/05/20)

Arch Coal, Inc. has announced that it is changing its name to Arch Resources, Inc., effective May 15, 2020. The name change underscores the company's ongoing transition to a premier producer of metallurgical products for the global steel industry. Arch is the second-largest supplier of coal in the United States.

"The name change we are announcing today reinforces Arch's strong and sustained pivot towards metallurgical markets and the global steel value chain, which we believe offer superior long-term return opportunities for our shareholders," said John W. Eaves, Arch's executive chair. "We have made tremendous progress in executing a fundamental shift in the company's strategic focus, and the new name will better reflect the value proposition and growth potential of our business going forward."

"The name change highlights Arch's intensifying focus on our metallurgical franchise and our steel-producing customer base," said Paul A. Lang, Arch's chief executive officer and president. "Arch produces some of the world's highest quality metallurgical products for the global marketplace, and the startup of our world class Leer South metallurgical mine in 2021 will deliver another step change advance in our shift towards metallurgical markets. Arch is moving forward with clear strategic priorities and is well-positioned for growth and success as a leading producer of metallurgical products for the steelmaking industry."

The startup of the Leer South longwall mine will solidify Arch's position as the world's leading producer of premium High-Vol A metallurgical products. Arch currently derives 70 percent of its normalized operating cash flow from its metallurgical segment, and expects that percentage to grow appreciably over time. The company is directing more than 90 percent of its capital budget to its metallurgical portfolio in 2020.

In its legacy thermal business segments, Arch remains focused on generating free cash flow. Since October 2016, Arch's thermal segments have generated nearly $700 million in adjusted EBITDA1 while expending just $100 million in maintenance capital. "We believe this systematic monetization of our thermal assets is the most value-creating and responsible path forward for our shareholders," Lang said.

"In combination with iron ore, our metallurgical products are indispensable in the primary production of steel," Lang continued. "We expect primary steel to play an essential role in the revitalization of the global economy as it recovers from the current disruption – and an equally critical role in the construction of a new economy supported by mass transit systems, wind turbines and electric vehicles."

At the time of the name change on May 15, 2020, Arch plans to launch a new corporate website highlighting its steel-focused value proposition. The new website will include a robust discussion of the company's commitment to environmental, social and governance principles. The company's NYSE ticker symbol will remain ARCH.

Latest News

Cargill moves to take full control of SJC Bionergia

(Posted on 07/02/25)

Cargill continues to advance its growth strategy in the Brazilian market and reinforces its investment... Read more


Anglo American completes sale of minority interest in Jellinbah for A$1.6 billion

(Posted on 31/01/25)

Anglo American plc has announced the completion of the sale of its 33.3% minority interest in Jellinbah... Read more


Rivera now MD of Cremer Erzkontor Mexico

(Posted on 30/01/25)

Rafael Rivera has been appointed the new Country Manager Mexico of the end-to-end raw materials supplier... Read more


Rio Tinto provides Iron Ore update following Tropical Cyclone Sean

(Posted on 24/01/25)

Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more


Rio Tinto shows greater consistency across key operations

(Posted on 19/01/25)

Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more


Trafigura publishes 2024 Sustainability Report

(Posted on 19/01/25)

Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more


NGFA comments on US East and Gulf Coast port labour deal

(Posted on 10/01/25)

The International Longshoremen’s Association and the United States Maritime Alliance, Ltd. have... Read more


Vitol completes acquisition of Noble Resources

(Posted on 07/01/25)

Further to the announcement of 2nd August 2024, Vitol B.V.  has now completed the acquisition of... Read more


Rio Tinto progresses development of Quebec gallium extraction process

(Posted on 17/12/24)

As part of a research and development programme, Rio Tinto is assessing the potential for extracting... Read more


Trafigura publishes 2024 Annual Results

(Posted on 17/12/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released results for... Read more


Geneva DryPort of South LouisianaPort of StocktonTelestackVan Aalst
  • TMS Awards 2023
  • Van Aalst
  • Geneva Dry
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping