Arch Coal Closes $423 Million Sale Of Canyon Fuel

Photo courtesy of Wikimedia Commons
Photo courtesy of Wikimedia Commons

Arch Coal Inc. has completed the planned sale of its subsidiary Canyon Fuel Co., to the privately held, Louisville Ky.-based Bowie Resources for $423 million in cash.

The company’s three Utah mines — Dugout Canyon, Skyline and Sufco — and about 105 million tons of bituminous coal reserves are included in the sale. The sale allows Arch to cash in on assets in its portfolio that aren’t core to its long-term strategic plans, company officials said.

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