|Arch Coal Foundation Pledges $100K to Promote Mine Safety and Technology Development Program at Marshall University|
CHARLESTON, W.Va. (October 27, 2006) - The Arch Coal Foundation today announced that it would donate a total of $100,000 over the next three years to Marshall University's new Mine Safety Technology Innovation Capability and Regional Business Development program.
"This program will help focus some of the country's best minds on identifying new technologies and practices for the next generation of coal mining safety," said Steven F. Leer, chairman and chief executive officer of Arch Coal, Inc. "As a long-standing supporter of mine safety initiatives, we're pleased to provide financial backing to the academic community to help discover and deploy cutting-edge technologies that will advance the coal industry and its safety practices."
In September, Marshall University Center for Environmental, Geotechnical & Applied Sciences was awarded a $2 million grant from the U.S. Economic Development Administration (EDA), as well as $1 million from the state of West Virginia, for development of the Mine Safety Technology Innovation Capability and Regional Business Development program.
The Arch Coal Foundation was formed in December 2005 with an initial endowment from Arch Coal, Inc. These funds are used to support organizations who engage in improving the quality of life in the communities in which Arch Coal operates. The Arch Coal Foundation focuses much of its giving in the area of education, including contributions to schools, as well as through sponsorship of its signature program - the Arch Coal Teacher Achievement Awards - that recognizes top classroom teachers in West Virginia, Wyoming and Utah.
St. Louis-based Arch Coal, Inc. (NYSE:ACI) is the nation's second largest coal producer. The company's core business is providing U.S. power generators with clean-burning, low-sulfur coal for electric generation. Through its national network of mines, Arch supplies the fuel for approximately 6 percent of the electricity generated in the United States. Arch's subsidiaries achieved an overall 2005 safety record that was four times better than the coal industry average.