Looking to keep costs in check, Arch said it expects capital spending of roughly $350 million in 2013, below its estimated range this year of $410 million to $430 million.
Arch is among many coal companies that have struggled as utilities switch to cleaner, cheaper alternatives. Arch in June announced it would lay off about 750 workers in the Kentucky, Virginia and West Virginia coalfields. Arch blamed the move on market pressures and a challenging regulatory environment that it said has pushed U.S. coal consumption to a 20-year low.
All the while, Arch said Friday, the company has pressed ahead with development of an Appalachia mine bearing metallurgical coal.
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