September 25, 2017 Read More →

Arch Coal, in Nod to Market Trends, Abandons Lease-Expansion Application

SNL:

Arch Coal Inc. has withdrawn its application for a lease on a federal tract of land in Wyoming that would have expanded its Black Thunder mine.

The request to lease the West Hilight tract was withdrawn at the end of August, the U.S. Bureau of Land Management confirmed in an email.

“We currently have more than 1.1 billion tons of Powder River Basin reserves under lease, and are targeting annual production of 70 [million] to 80 million tons per year at Black Thunder,” Arch spokeswoman Logan Bonacorsi said. “The decision to withdraw the application was made after careful evaluation of our near-term needs and a commitment to a judicious capital allocation approach.”

The Black Thunder mine is the second-largest coal mine by production in the country.

More: Arch says downsized Black Thunder no longer in need of new federal coal tract

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