Business

A subsidiary of St. Louis-based Arch Coal has submitted a successful bid of just over $300 million for the right to mine more than 200 million tons of coal in northeast Wyoming.

The U.S. Bureau of Land Management announced the sale Wednesday, saying the bid by Ark Land Company met or exceeded fair market value for the coal.

The 222 million tons of coal sits beneath more than three square miles of land next to the lease boundary of the Black Thunder Mine in the Powder River Basin.

As Dick Fleming prepares to leave the St. Louis Regional Chamber & Growth Association, and his successor Joe Reagan gets ready to move to town from Louisville, they both took time to join us today on St. Louis on the Air.  You can hear their entire conversation in the archives.  In the meantime, here are some highlights from our conversation with Reagan:

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A suburban St. Louis company could face nearly $200,000 in fines after the U.S. Occupational Safety and Health Administration cited 37 health and safety violations in an investigation that began after a fatal accident.

A worker at Resource Management died June 12 in an accident involving a baling machine at the recycling company.

St. Louis city and St. Louis County officials say they've gotten federal approval that will help local companies compete in the global market. The area's Foreign Trade Zone has expanded to include all of St. Louis County and City.

The expanded zone will allow more local manufacturing and distribution companies to import goods duty-free and avoid other customs fees.

Mayor Francis Slay announced the expansion at Sunset Transportation in south St. Louis. Slay says the approval from the US Department of Commerce also streamlines the time it takes for businesses to qualify.