Offsetting those negative impacts was the Sept. 29 sale of properties in eastern Kentucky that previously supported Arch Coal's No. 37 mine, which closed in January 1998.
This sale resulted in a pre-tax gain of $18.5 million, including the assumption of $4 million in reclamation liabilities.
"Our ongoing, long-term objective is to lease or sell those assets that are not performing or do not fit our long-term strategy," Leer said. "Our land subsidiary, Ark Land, is operated as a profit center and is constantly reviewing our properties in an effort to identify assets that fit one or both of those criteria."
Arch Coal is the nation's second and West Virginia's largest coal producer. In its Tuesday statement, Arch Coal also repeated its call for federal regulators to allow the state Division of Environmental Protection to issue a permit to expand the mountaintop removal mining at the company's Dal-Tex operations.
The U.S. Environmental Protection Agency has halted the 3,100-acre permit extension because of concerns of the mine's impacts on the environment.
"As previously stated, we will also need to secure the new permit for the Dal-Tex operation in a timely fashion in order to realize improvements there and avoid curtailment of operations at that complex," Leer said.
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