Driven by low natural gas prices and “historically weak power markets,” Arch Coal Inc.’s Powder River Basin mines recorded a negative cash flow in the first quarter of 2020, said John Drexler, the company’s incoming COO in a Thursday morning earnings call.

An already floundering thermal coal market has been hit again by the COVID-19 pandemic, which has further reduced the nation’s consumption of electricity and cut into the demand for thermal coal, he said.

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