South Africa coal, metal exporters to spend billions on rail
Organizations representing firms including Glencore and a unit of Anglo American are negotiating the terms of the pacts with Transnet.
Arch Coal has completed its acquisition of International Coal Group through a merger, with ICG becoming a wholly owned subsidiary of Arch. The aggregate value of the transaction totalled $3.4 billion. The acquisition adds nearly 13 Mt of low-cost Appalachian thermal coal production to Arch’s vast domestic thermal coal portfolio, solidifying the company’s number two position among US-based coal miners. With expected metallurgical coal sales of 11 Mt in 2011, Arch also becomes the second largest US metallurgical coal producer and a top ten global supplier to steelmakers. By capitalising on expansion opportunities, Arch expects to boost its metallurgical coal output to nearly 15 Mt by 2015.
