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| == History == | == History == | ||
| Arch Mineral Corporation was founded ] as a partnership between Ashland Oil (now ]) and the ] family of ]. Ashland Coal, Inc. was formed in ] as a ] of Ashland Oil. | Arch Mineral Corporation was founded ] as a partnership between Ashland Oil (now ]) and the ] family of ]. Ashland Coal, Inc. was formed in ] as a ] of Ashland Oil. | ||
| The present company was formed through the merger of Ashland Coal, Inc. and the privately held Arch Mineral Corporation in ]. | The present company was formed through the merger of Ashland Coal, Inc. and the privately held Arch Mineral Corporation in ]. | ||
| == Controversy == | |||
| The company's practice of ] ], which creates a large number of environmental problems such as ] and water contamination, is highly controversial. Arch Coal's ] mining operations in the ]were the subject of a critical documentary in 2002 on ] on ]. <ref></ref> <ref></ref>. The company, however, contends that mountaintop removal mining is required in order to make such operations profitable. | |||
| == References == | == References == | ||
Revision as of 16:41, 7 October 2006
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| File:Arch Coal logo.png | |
| Company type | Public (NYSE: ACI) |
|---|---|
| Industry | Coal mining |
| Founded | 1969 (founded), 1997 (current incorporation) |
| Headquarters | St. Louis, Missouri |
| Key people | Steven F. Leer, Chairman/CEO John W. Eaves, President/COO |
| Products | Coal |
| Revenue | $2.51 billion U.S (2005) |
| Number of employees | 3,600 (2006) |
| Website | http://www.archcoal.com/ |
Arch Coal NYSE: ACI is a United States coal mining and processing company headquartered in St. Louis, Missouri. The company mines, processes and markets bituminous and sub-bituminous coal with low sulfur content in the eastern and western United States.
As of December 31, 2005, the company operated 21 active mines and controlled approximately 3.1 billion tons of proven and probable coal reserves, located in the Central Appalachia, the Powder River Basin, and the Western Bituminous regions. The company operates mines in Colorado, Kentucky, Utah, Virginia, West Virginia and Wyoming.
Arch Coal claims to be the second largest supplier of coal in the United States, supplying a stated 12% of the domestic market. It sits just outside the Fortune 500 at position 691.
According to Forbes Magazine the company sells substantially all of its coal to producers of electric power, steel producers and industrial facilities.
History
Arch Mineral Corporation was founded 1969 as a partnership between Ashland Oil (now Ashland, Inc.) and the Hunt family of Dallas, Texas. Ashland Coal, Inc. was formed in 1975 as a subsidiary of Ashland Oil.
The present company was formed through the merger of Ashland Coal, Inc. and the privately held Arch Mineral Corporation in July 1997.
Controversy
The company's practice of mountaintop removal mining, which creates a large number of environmental problems such as erosion and water contamination, is highly controversial. Arch Coal's West Virginia mining operations in the Appalachian Mountainswere the subject of a critical documentary in 2002 on Now with Bill Moyers on PBS. . The company, however, contends that mountaintop removal mining is required in order to make such operations profitable.
References
- Yahoo! Finance profile
- Fortune 500 at cnn.com
- Forbes profile
- Now with Bill Moyers, "The Cost of Coal"
- Now with Bill Moyers, "The Cost of Coal" Update