Arch Coal, one of the largest US coal producers, has released its full year results for 2012 showing a US$ 295 million net loss in Q4 2012. This compares to a net gain of US$ 62 million in Q4 2011.
The full year saw Arch Coal take a net loss of US$ 77 million.
John W. Eaves, president and CEO of Arch Coal, remained hopeful upon publication of the results: “Arch continued to successfully execute its operational strategy and made progress on a number of fronts in the fourth quarter while weathering challenging coal market conditions,” he said. "Our Western Bituminous Region delivered a record cash margin performance, and our other regions generated positive cash flow even while running at significantly reduced volume levels. In addition, we shipped 3 million tons overseas in the fourth quarter, capping a record year for company exports."The company was able to maintain its good safety record, with a lost-time safety rate better than the US industry average and winning numerous safety awards, including the 2012 Sentinels of Safety award.
Written by Lauren Bryant
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