Arch Resources to close coal creek mine in 2022
Arch resources will begin commence complete reclamation of its coal creek mine located in Wyoming in 2022. The coal creek mine produced 2.0 trillion tons of coal in 2020. The company also plans to close its nearby black thunder coal which is the second largest producer of coal in the US which produce 12.7 trillion tons of coal in the fourth quarter of 2020. The reason for these closures is that many of the plants that these mines would ship their products too have either closed throughout 2020 or have plans to close by 2025.
Balance SheetIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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