St Louis US headquartered Arch Resources Inc has reported net income of USD 226.6 million in the fourth quarter of 2021, compared with a net loss of USD 78.5 million. Arch CEO & President Mr Paul A Lang said "As we reflect on 2021, we are incredibly proud of the progress the team has made to transform the company and set the stage for long-term growth and value creation. We have dramatically enhanced our core metallurgical portfolio with the on-time and on-budget startup and successful ramp of Leer South, and taken significant steps to enhance the value of our legacy thermal assets by locking in a highly advantageous book of contract business, shrinking the company's thermal operating footprint, and setting in motion the pre-funding of Arch's long-term thermal mine closure obligations."Mr Paul A Lang said "As we progress into 2022, the stage is set for even greater advances on our strategic priorities. With our world-class asset base, top-tier marketing and logistics expertise, and high-performing workforce, Arch is exceptionally well-positioned to capitalize on expanding global steel demand and the buildout of a new, low-carbon economy. We look forward to putting these strengths to work to generate substantial, long-term value for all Arch stakeholders while continuing to build on our industry-leading ESG performance."
St Louis US headquartered Arch Resources Inc has reported net income of USD 226.6 million in the fourth quarter of 2021, compared with a net loss of USD 78.5 million. Arch CEO & President Mr Paul A Lang said "As we reflect on 2021, we are incredibly proud of the progress the team has made to transform the company and set the stage for long-term growth and value creation. We have dramatically enhanced our core metallurgical portfolio with the on-time and on-budget startup and successful ramp of Leer South, and taken significant steps to enhance the value of our legacy thermal assets by locking in a highly advantageous book of contract business, shrinking the company's thermal operating footprint, and setting in motion the pre-funding of Arch's long-term thermal mine closure obligations."Mr Paul A Lang said "As we progress into 2022, the stage is set for even greater advances on our strategic priorities. With our world-class asset base, top-tier marketing and logistics expertise, and high-performing workforce, Arch is exceptionally well-positioned to capitalize on expanding global steel demand and the buildout of a new, low-carbon economy. We look forward to putting these strengths to work to generate substantial, long-term value for all Arch stakeholders while continuing to build on our industry-leading ESG performance."
