Arch Coal Inc., which emerged from bankruptcy in October, said President Donald Trump’s administration should prove to be positive for its coal businesses.
The Creve Coeur-based coal mining company also said revenue rose 4.6 percent to $575.7 million in the fourth quarter ended Dec. 31 from the third, helped by higher prices for metallurgical coal, which is used in steel making.
“Arch anticipates that the new Administration will constructively address the regulatory burden that has pressured the industry in recent years, resulting in stabilization in domestic thermal coal demand in the intermediate term,” the company said on Wednesday.
Demand for thermal coal, used for power generation, has sharply declined in recent years, hurt by cheap prices for competing fuel natural gas and environment-friendly regulations by former President Barack Obama’s administration.
The battered U.S. coal industry has rejoiced in recent weeks as Trump has vowed to support more coal mining.
Read more: St. Louis Post-Dispatch