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Arch CEO bullish on demand for Wyo. coal

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CHEYENNE, Wyo. (AP) — The chief executive of St. Louis-based Arch Coal says he expects the U.S. coal industry to continue to increase its share of the global coal market.

The Gillette News-Record reports the U.S. share of metallurgical coal shipped by sea has grown from 10 percent in 2003 to 24 percent this year.

Arch CEO John Eaves said at an energy conference in Houston on Wednesday he thinks that share of the international market will keep growing.

He also predicts to see increase international demand for coal to fire power plants.

Arch has two coal mines in northeast Wyoming's Powder River Basin. Eaves says Powder River Basin coal is one of the most economical fuels in the U.S. and internationally.

Copyright 2012 The Associated Press