Arch Coal Bankruptcy: The End of an Era
By Norman Carr Jun 23, 2016Longview, WA – Arch Coal, Inc., the second largest coal supplier in the United States, announced today that it would be filing for bankruptcy protection after suffering several quarters of losses and being unable to restructure its debt. The company has been a major player in coal regions across the U.S., including Appalachia and the Powder River Basin. In the Northwest, the announcement significantly reduces the likelihood that several Arch Coal projects across Montana and Washington State will move forward, including the Otter Creek mine and Tongue River Railroad in Montana, as well as the proposed Millennium Bulk Terminals coal export terminal in Longview, Washington.
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Due to plummeting profitability of domestic coal production, the company had planned to open a massive new mine coal at Otter Creek and then transport it using the Tongue River Railroad, for eventual export to Asia through the proposed Millennium coal terminal in Washington State.
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