Arch: Fourth-quarter production levels below expectations - Beckley, Bluefield & Lewisburg News, Weather, Sports

Arch: Fourth-quarter production levels below expectations

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    A house burnt for several hours last night in Pax before fire crews could put it out.Officials say nobody lived in the home that was located on Paint Street.The Pax Fire Department's assistant Chief, John Lovelace, said that arson looked to be the cause."Because nobody lives here and there's no way it could have been an electrical fire, so we think somebody set it," he said.Some Pax residents said that when houses catch on fire like this they are left worried for their own home."It crosses my...
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    Boy Scouts team up with the American Chestnut Foundation to plant trees

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    Today the American Chestnut Foundation and the Boy Scouts of America teamed up and planted numerous Chestnut trees.The trees were planted at the National Scout Reserve in Glen Jean.Over 40 scouts were there working very hard alongside friends and family membersBoy Scout officialssayss that this was a great way for scouts to put the ideals of scouting into practice."We've gathered scouts from 3 different counties, Raleigh ,Summers andLayettee.They can come up here and learn more about the Ches...

Arch Coal notified investors and analysts Jan. 21 that lower-than-planned shipment levels in the Powder River Basin and reduced production levels at the Mountain Laurel complex in Appalachia will affect its fourth quarter 2013 financial results.   

Arch's fourth-quarter 2013 shipment levels in the Powder River Basin decreased by more than 15 percent from third quarter levels due to rail service issues on the Joint Line,the company said. Shipments fell because Arch's current mix of sales contracts skews more heavily toward customers utilizing the rail operator with the majority of the shortfall. The lower-than-expected shipments in the fourth quarter caused thermal volumes for 2013 to be below the company's previous expectations.

"Although rail disruptions impacted our PRB operations in the fourth quarter, we would expect to make up a majority of those shipments during 2014 as rail service improves throughout the year," said John W. Eaves, Arch's president and chief executive officer, said in a news release.

At the Laurel Mountain complex, fourth quarter 2013 production at the mine decreased by 40 percent as compared to third quarter levels. As a result, the company's full year 2013 metallurgical coal sales volumes were slightly below the low end of its previous expectations.

Arch Coal's fourth quarter 2013 earnings release will be issued before the market opens on Tuesday, Feb. 4. Management's conference call with analysts is scheduled for 10 a.m. that day.