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Article: Arch Coal 3Q tumbles, but co. sees recovery signs
- Article from:
- AP Online
- Article date:
- October 30, 2009
- Author:
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Arch Coal Inc. said Friday its third-quarter profits plunged on lower coal prices, but the coal miner suggested that improving operating margins in all regions reflect an emerging turnaround in once-struggling coal markets.
"In light of the 'Great Recession' of 2009, we're pleased to be profitably managing through a severe downturn in energy markets," said Steven Leer, Arch's chairman and CEO. "We are also seeing domestic and global economies begin to transition from recession to recovery."
Arch, which fuels about 8 percent of all U.S. electrical generation, said it is seeing improvements in markets for metallurgical or coking coal used in steelmaking, ...