Skip to main content

Arch announces US$54 million equipment financing facility

Published by
World Coal,


Arch Coal, Inc. has announced that it recently closed on a US$54 million equipment financing facility with an average interest rate of 6.3%. The facility amortises over a period of 4 years and is tied to equipment at the Leer longwall mine in Taylor County, West Virginia (USA).

"We view this facility as a highly advantageous way to augment our already strong financial position, at very competitive rates," said John Drexler, Arch's Chief Financial Officer.

"As previously stated, Arch is well-positioned to fund the development of the world class Leer South longwall mine with internally available funds, and this transaction fortifies our cash and liquidity position still further. Given today's uncertain macroeconomic environment, we view this transaction as prudent and well-timed, with an amortising schedule that fits well with the planned start-up of Leer South, which is expected to boost our cash-generating capabilities significantly."

Read the article online at: https://www.worldcoal.com/coal/09032020/arch-announces-us54-million-equipment-financing-facility/

You might also like

OSIsoft webinar

WEBINAR: The hidden value of digital transformation in coal mining

In this webinar, OSIsoft will highlight some aspects of a successful digital transformation journey and discuss the top priorities that mining executives are looking for. They will also see how mining companies around the world benefit from real-time operational data to improve their safety results & their asset reliability and to optimise their operations. Register for free today »

 

Improving jaw crusher safety

According to the Health and Safety Executive’s guidance for the safe operation and use of mobile jaw crushers, equipment operators may be subject to multiple risks.

 
 

Embed article link: (copy the HTML code below):