St. Louis-based metallurgical coal miner Arch Coal, Inc. announced Monday that it will acquire Scott Depot, West Virginia-based International Coal Group, Inc. for $3.4 billion.
With the addition of International Coal Group to its portfolio, Arch Coal expects metallurgical coal sales to reach 11 million tons in 2011 and 14 million tons over the next three years. Arch Coal will become the second largest US metallurgical coal supplier and a top-five global coal producer, and will also become the only US coal producer with assets in every major US coal supply basin and its reserve base will rise 25 percent to 5.5 billion tons.