ST. LOUIS , June 30, 2022 /PRNewswire/ -- Arch Resources, Inc. (NYSE: ARCH) today announced the publication of its 2022 sustainability report, now available for download on the company's website homepage at archrsc.com. The report details Arch's commitment to the highest environmental, social and governance principles, and includes a robust discussion of the company's significant and ongoing progress in its 10-year pivot towards global steel and metallurgical coal markets, which are expected to play an essential role in the build-out of a new, low-carbon economy.
Among the highlights, the report delineates Arch's:
- Lost-time incident rate of 1.01 in 2021, which was nearly 2.5-times better than the industry average
- Perfect 2021 environmental compliance record under the federal mining law
- 100 percent compliance against 134,000 water quality measurements conducted in 2021
- Establishment of an industry-first thermal mine reclamation fund, which sets aside sufficient cash for final reclamation of its legacy thermal operations, and
- Reductions now totaling 56 percent in direct and indirect CO2e emissions against its 2013 baseline year
"We believe Arch's long-term success hinges on our ability to drive continuous improvement against a wide range of ESG-related metrics," said Paul A. Lang, Arch's CEO and president. "The Arch team's deep commitment to safety and environmental stewardship – as well as to the principles of transparency, integrity and good governance – serve as the very bedrock of the Arch corporate culture and provide a powerful foundation on which to build. We remain sharply focused on driving even greater progress and extending our industry leadership in these critical areas of performance, and welcome ongoing dialogue with our many stakeholders as we pursue these objectives."
Arch Resources is a premier producer of high-quality metallurgical products for the global steel industry. The company operates large, modern and highly efficient mines that consistently set the industry standard for both mine safety and environmental stewardship. Arch Resources from time to time utilizes its website – archrsc.com – as a channel of distribution for material company information. To learn more about us and our premium metallurgical products, go to www.archrsc.com.
Forward-Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and future plans, including our sustainability objectives, commitments, plans, programs, targets, goals and strategies, and often contain words such as "should," "could," "estimates," "project," "target," "expects," "may," "plans," "believes," "seeks," "strives," "will" or variations of such words or similar words. Actual results or outcomes, including the sustainability objectives, targets and commitments set forth in this report, may vary significantly, and adversely, from those anticipated due to many factors, including: unexpected delays, difficulties, and expenses in executing against the objectives, targets and commitments identified in this report; unexpected cost increases or technical difficulties in constructing, developing, maintaining or modifying sites, technologies or processes; technological innovations; impacts of the COVID-19 pandemic; changes in coal prices, which may be caused by numerous factors beyond our control, including changes in the domestic and foreign supply of and demand for coal and the domestic and foreign demand for steel and electricity; volatile economic and market conditions; operating risks beyond our control, including risks related to mining conditions, mining, processing and plant equipment failures or maintenance problems; weather, natural disasters and climate-related events; the unavailability of raw materials, equipment or other critical supplies, mining accidents, and other inherent risks of coal mining that are beyond our control; the degree to which necessary data can be gathered and verified; loss of availability, reliability and cost-effectiveness of transportation facilities and fluctuations in transportation costs; inflationary pressures and availability and price of mining and other industrial supplies; the effects of foreign and domestic trade policies, actions or disputes on the level of trade among the countries and regions in which we operate, the competitiveness of our exports, or our ability to export; competition, both within our industry and with producers of competing energy sources, including the effects from any current or future legislation or regulations designed to support, promote or mandate renewable energy sources; alternative steel production technologies that may reduce demand for our coal; the loss of key personnel or the failure to attract additional qualified personnel and the availability of skilled employees and other workforce factors; our ability to secure new coal supply arrangements or to renew existing coal supply arrangements; the loss of, or significant reduction in, purchases by our largest customers; disruptions in the supply of coal from third parties; risks related to our international growth; our relationships with, and other conditions affecting our customers and our ability to collect payments from our customers; the availability and cost of surety bonds, including potential collateral requirements; additional demands for credit support by third parties and decisions by banks, surety bond providers, or other counterparties to reduce or eliminate their exposure to the coal industry; inaccuracies in our estimates of our coal reserves; defects in title or the loss of a leasehold interest; losses as a result of certain marketing and asset optimization strategies; cyber-attacks or other security breaches that disrupt our operations, or that result in the unauthorized release of proprietary, confidential or personally identifiable information; our ability to acquire or develop coal reserves in an economically feasible manner; our ability to comply with the restrictions imposed by our financing or insurance arrangements; our ability to service our outstanding indebtedness and raise funds necessary to repurchase our convertible notes for cash following a fundamental change or to pay any cash amounts due upon conversion; existing and future legislation and regulations affecting both our coal mining operations and our customers' coal usage, governmental policies and taxes, including those aimed at reducing emissions of elements such as mercury, sulfur dioxides, nitrogen oxides, particulate matter or greenhouse gases; increased pressure from political and regulatory authorities, along with environmental and climate change activist groups, and lending and investment policies adopted by financial institutions and insurance companies to address concerns about the environmental impacts of coal combustion; increased attention to environmental, social or governance matters ("ESG"); our ability to obtain and renew various permits necessary for our mining operations; risks related to regulatory agencies ordering certain of our mines to be temporarily or permanently closed under certain circumstances; risks related to extensive environmental regulations that impose significant costs on our mining operations, and could result in litigation or material liabilities; the accuracy of our estimates of reclamation and other mine closure obligations; the existence of hazardous substances or other environmental contamination on property owned or used by us; and risks related to tax legislation and our ability to use net operating losses and certain tax credits; and our ability to pay base or variable dividends in accordance with our announced capital return program. All forward-looking statements in this report, as well as all other written and oral forward-looking statements attributable to us or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements contained in this section and elsewhere in this report. These factors are not necessarily all of the important factors that could cause actual results or outcomes to vary significantly, and adversely, from those anticipated at the time such statements were first made. These risks and uncertainties, as well as other risks of which we are not aware or which we currently do not believe to be material, may cause our actual future results and outcomes to be materially, and adversely, different than those expressed in our forward-looking statements. For these reasons, readers should not place undue reliance on any such forward-looking statements. These forward-looking statements speak only as of the date on which such statements were made, and we do not undertake, and expressly disclaim, any duty to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by the federal securities laws. For a description of some of the risks and uncertainties that may affect our future results, you should see the "Risk Factors" in Item 1A of our most recent Annual Report on Form 10-K and subsequent Form 10-Q and current report on Form 8-K filings made with the Securities Exchange Commission ("SEC"). Furthermore, while future events discussed in this report may be significant, any significance should not be read as necessarily rising to the level of the definition of materiality used for the purposes of certain disclosures required to be included in our SEC filings. Moreover, given the uncertainties, estimates and assumptions inherent in the matters discussed in this report, and the timelines involved, materiality is inherently difficult to assess far in advance. In addition, given the inherent uncertainty of the estimates, assumptions and timelines associated with the matters discussed in this report, we may not be able to anticipate in advance whether or the degree to which we will or will not be able to meet our plans, targets or goals. In addition, non-financial information, such as that included in parts of this report, is subject to greater potential limitations than financial information, given the methods used for calculating or estimating such information. The company has not and does not intend to independently verify third-party data contained in this report or used in the estimates and assumptions necessary to the matters discussed in this report.
In addition, many of the standards and performance metrics used and referred to in the objectives, targets and commitments set forth or referred to in this report continue to evolve and are based on management expectations and assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees. The standards and performance metrics used, and the expectations and assumptions they are based on, have not unless otherwise expressly specified, been verified by any third party.
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SOURCE Arch Resources, Inc.