Arch Coal (NYSE:ACI) recently announced they'll opening an office in Billings, Montana, as they prepare to work the Otter Creek tracts in the state they recently won the bid for with an $85.8 million offer.
The state of Montana released the rights to Arch Coal to mine the tracts, which comprise 8,300 acres.
Estimates are the company now controls approximately 1.5 billion tons of coal in the Otter Creek area.
William "Mike" Rowlands, who will oversee the development as he was named director of the project, said this, "We are looking forward to building a world-class mining operation in Montana that reflects Arch's core values of excellence in safety and environmental stewardship."
Rowlands will reportedly work with the area communities, railroads and government agencies as the major face of Arch Coal in Montana.
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