Arch Coal, Inc. announced today that it is changing its name to Arch Resources, Inc., effective May 15, 2020. The name change underscores the company’s ongoing transition to a premier producer of metallurgical products for the global steel industry.
“The name change we are announcing today reinforces Arch’s strong and sustained pivot towards metallurgical markets and the global steel value chain, which we believe offer superior long-term return opportunities for our shareholders,” said John W. Eaves, Arch’s executive chair. “We have made tremendous progress in executing a fundamental shift in the company’s strategic focus, and the new name will better reflect the value proposition and growth potential of our business going forward.”
In a press release, the company said it currently derives 70 percent of its normalized operating cash flow from its metallurgical segment, and expects that percentage to grow appreciably over time with the startup of the Leer South longwall mine. The company said it is directing more than 90 percent of its capital budget to its metallurgical portfolio in 2020.