By Tom Weber, KWMU
St. Louis, MO – St. Louis-based Arch Coal plans to sell a mine it doesn't yet own.
Arch is currently awaiting federal approval to buy Vulcan Coal. Vulcan owns the Buckskin mine in Wyoming.
Arch said in its annual report released this morning (Monday) that it will immediately sell the Buckskin mine once the sale with Vulcan is final.
Kiewit Mining Acquisition Company will pay Arch $82 million for the mine.
Arch Coal is the world's second largest coal producer. The company actually signed an agreement in January with Kiewit to sell the mine, but the deal was only disclosed in Arch's annual report that it filed with the Securities and Exchange Commission Monday morning.