Exhibit 12.1

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

	Year Ended December 31,
	2010			2009			2008			2007			2006
				(Dollars in thousands, except ratios)
Earnings:
Pretax income, excluding income or loss from equity investments	$	165,534		$	23,020		$	395,977		$	157,224		$	265,688
Adjustments:
Fixed charges		153,467			118,075			99,562			103,251			87,402
Distributed income from equity investments		9,917			5,164			2,167			1,672			—
Capitalized interest, net of amortization		4,417			3,143			(8,351	)		(16,849	)		(14,578	)
Arch Western Resources, LLC dividends on preferred membership interest		(107	)		(58	)		(107	)		(85	)		(99	)
Total earnings	$	333,228		$	149,344		$	489,248		$	245,213		$	338,416
Fixed charges:
Interest expense	$	142,549		$	105,932		$	76,139		$	74,865		$	64,364
Capitalized interest		—			824			11,703			17,967			14,807
Arch Western Resources, LLC dividends on preferred membership interest		107			58			107			85			99
Portions of rent which represent an interest factor		10,811			11,261			11,613			10,334			8,135
Total fixed charges		153,467			118,075			99,562			103,251			87,405
Preferred stock dividends		—			—			12			219			378
Total fixed charges and preferred stock dividends	$	153,467		$	118,075		$	99,574		$	103,470		$	87,783
Ratio of earnings to combined fixed charges and preference dividends		2.17	x		1.26	x		4.91	x		2.37	x		3.86	x