Boston, MA 10/17/2013 (wallstreetpr) – With the Arch Coal Inc (NYSE:ACI) set to announce its financial results for the third quarter of the year 2013 in style over a conference call on the October 29, it goes without saying that this could not have come at a better time. The fact that the company just achieved a major milestone in its safety measures will be a plus for the company at its financial results review both to the investors and the public.
The company’s West Elk mines posted its 2 millionth hour of free work related injury. Given the risks that miners undergo while on their call of duty, it has to be known that that is an impressive fete. However, all is not cozy for ACI because the company has been experiencing downward spirals at the stock market. This has however not dampened the company’s urge to grow and in recent times has made some remarkable strides in the right direction.
Recently the company managed to acquire from one of its struggling competitors the Patriot Coal Corporation the Gulf property. This came in diverse ways as a huge advantage for ACI. Not only did the purchase of the property come at an easy price tag of just $16 million, ACI was also able to settle a court dispute that would have seen them cough up $5 million to the Patriot Coal Corporation.
Albeit the notion that came with the announcing of the highly disappointing second quarter results even though somehow acceptable, the company has embarked on a cost cutting mission which seems to be paying off. The company has also been able to pro-long the life of the Leer mine by a further 3 years. This new developments along with the expected rise in demand for coal is set to boost the company’s fortunes in the near future.