Arch Resources announced earlier today the acceleration of their exit from the thermal coal business. Its Powder River Basin operation mined 75 million tons in 2019 with planed output of 55 million tons in 2020. Then, cutting by another 50% over next 2 to 3 years as they “harvest cash.”
The company added “we view this systematic winding down of our thermal operations – in a way that allows us to continue to harvest cash and to fund long-term closure costs with ongoing operating cash flows – as the right business solution in the event we are unable to find an appropriate buyer,”
Source: Taylor Kuykendall
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