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Arch moves a shovel, shuffles notes

ARCH Coal has reported that it was hit with an imminent danger order at its Black Thunder mine in...

Staff Reporter

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The mine, part of Arch’s Thunder Basin Coal subsidiary, was cited by the Mine Safety and Health Authority for “the reported manner in which a shovel was moved” on August 21.

Companies are required to report all imminent danger orders issued by MSHA to the Securities and Exchange Commission.

This week, the St Louis-based company also announced it would issue up to $375,000 aggregate principal amount of 9.875% senior notes due in 2019 in exchange for any outstanding 9.875% senior notes due in 2019 that are validly tendered and not withdrawn prior to the expiration exchange offer.

Arch Coal began trading ex-dividend on August 28.

A cash dividend payment of 3c per share is scheduled to be paid on September 13 to any shareholders who purchased stock prior to that date.

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