Arch Coal (NYSE:ACI) Opening Montana Office

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.

Arch Coal (NYSE:ACI) Shuts Down Utah Mine

Arch Coal (NYSE:ACI) received a closure order from the Federal Mine Safety and Health Administration (MSHA) to shut down the Dugout Canyon mine in Utah on Sunday, after last Thursday night elevated levels of carbon monoxide gas, or what is called a "hot spot," were discovered.

At this time efforts are being made to prepare to flood the area in order to extinguish the hot spot after a mine rescue team wasn't able to do it after being sent to the area.

Since the closure order carbon monoxide is leveled off and methane levels remain low.

Normally it takes about a month to seal off a hot spot and extinguish it.

The closure won't affect Arch Coal customers as they'll provide coal to meet their contracts from their inventory.

Arch coal subsidiary Canyon Fuels operates the mine.

Citibank (NYSE:C) Funding Vietnam Bauxite Project

Citibank finances Vietnam Bauxite Projects

Citibank (NYSE:C) has signed a deal with the Vietnam National Coal and Mineral Industries group to finance the Lam Dong bauxite project, located in the Central Highlands of the country.

The credit deal will extend for a period of 13 years, and is for up to $200 million in loans for the project.

Vinacomin, the leading coal miner in Vietnam, will develop the bauxite sites.

ANGLO America (LON:AAL) Selling Coal Projects

ANGLO America Coal Mines

ANGLO America (LON:AAL) has started the process of selling five coal exploration projects based in Australia, saying the coal mines don't fit in with their future plans in the near future.

ANGLO American needs something to jumpstart them now, and even though the coal mines based in New South Wales and Queensland had long term potential, the company is focusing on short term projects to grow now.

Handling the deal for Anglo America is Goldman Sachs (NYSE:GS).

ANGLO America Coal Mines