US metallurgical and thermal coal supplier Arch Coal has completed its chapter 11 bankruptcy restructuring, Kallanish learns from a company release.

"Today marks the beginning of a new era for Arch Coal," says ceo John Eaves. "We are extremely pleased with what we have accomplished during our highly expeditious restructuring process, and are eager to move forward with our compelling plan for value creation. I am confident we have all the pieces in place for long-term success – an extraordinary workforce, cost-competitive assets, a high-quality reserve base, a clean balance sheet and an excellent management team."

Arch bills itself as the leading domestic producer of metallurgical coal, and its combined metallurgical and thermal coal mines represent about 13% of the total US supply. The company entered bankruptcy in January due to a choppy coal market and nearly $4.5 billion in debt.

"We are particularly pleased to be emerging in a resurgent metallurgical market, and look forward to similar strengthening in thermal coal markets in the months ahead," says Eaves. "With our enhanced financial foundation and top-tier assets, we believe we are exceptionally well-positioned to capitalize on both."