Arch Resources Secures Promising 2023 Coal Sales
Arch Resources, a U.S. coal miner, has sealed deals for 68.9 million st of thermal coal for 2023. These are at an average cash cost between $14.50 and $15.50 per st. The company shared this information in a July 27 earnings report. Of this total, 67.9 million st are committed and priced. Additionally, the company has committed an extra 1 million st that still requires pricing for 2023.
In an earnings call on July 27, the company stated its EBITDA was surprisingly high. Specifically, their second-quarter legacy thermal coal segment reached $29.2 million. However, this is a decline from the year-ago quarter. At that time, the thermal segment EBITDA stood at a robust $93.3 million. (read more…)
