"Arch Coal Inc. announced on Tuesday an agreement with the operator of a British Columbia shipping terminal that will enable the miner to export 2 million tons of coal to Asia this year.
The five-year deal with Canadian Crown Corp. Ridley Terminals Inc. provides Arch, based in Creve Coeur, access to 2.5 million metric tons of coal-handling capacity during each of the next four years. Financial terms weren't disclosed.
It's the second West Coast coal terminal agreement in as many weeks for Arch, which is searching for ways to ship coal from its vast Wyoming surface mines to fast-growing energy markets in Asia. St. Louis-based Peabody Energy Corp. is also conducting engineering studies for a coal export facility somewhere on the U.S. or Canadian coast and is expected to announce plans early this year."