SUGAR LAND, TX -- (Marketwire) -- 05/03/11 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- Yesterday, coal miner Arch Coal Incorporated (NYSE:ACI) (St. Louis, Missouri) announced plans to acquire International Coal Group Incorporated (NYSE:ICO) (Scott Depot, West Virginia) for an all-cash transaction of approximately $3.4 billion. The move will raise Arch to the position of second-largest metallurgical coal producer in the U.S., behind Alpha Natural Resources (NYSE:ANR) (Abingdon, Virginia), and elevates Arch to one of the top 10 met coal suppliers in the world.
The announcement comes in the wake of a growing number of large acquisitions in the Metals & Minerals Industry, including those of Massey Energy Company (NYSE:MEE) (Richmond, Virginia) and Rio Tinto plc (NYSE:RIO) (London, England).
As part of its Global Metals & Minerals Industry Database, Industrial Info is currently tracking more than 3,200 active mining projects totaling $1.2 trillion around the world.
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