Arch acquires Patriot reserves in northern WV - Beckley, Bluefield & Lewisburg News, Weather, Sports

Arch acquires Patriot reserves in northern WV

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Arch Coal has acquired property adjacent to its Tygart Valley reserves and its Leer mine for $16 million as part of the Patriot Coal bankruptcy settlement agreement.

In a statement released early today, Arch said the reserves are of comparable quality to Leer's high-volatile "A" metallurgical coal reserves. The addition of the reserves will enable Arch to recover up to an incremental 8 million tons of metallurgical coal at the Leer mine, thereby extending the estimated mine life of Leer by nearly three years.

"The Guffy acquisition represents a valuable, synergistic, bolt-on opportunity for Arch that extends the reserves and mine life at Leer, one of our premier, metallurgical coal operations in Appalachia," said John W. Eaves, Arch Coal's president and chief executive officer, in the news release.