Peabody Energy and Arch Coal announce Powder River Basin deal
2019-06-21 13:59:05 [Print]
Peabody Energy and Arch Coal will combine their mining operations in the Powder River Basin and Colorado, the companies announced Wednesday morning, bringing together the two biggest coal mines in the country.
While the companies expect the joint venture to save about $120 million annually over the next decade, a Peabody spokesman said the company doesn't expect the savings to come at the cost of miners' jobs.
The move combines the North Antelope Rochelle and Black Thunder mines, owned by Peabody and Arch respectively, into a single complex.
Peabody will own 66.5 percent of the joint venture, and Arch will own 33.5 percent. Peabody will manage all activities, including the marketing of coal.
While the companies expect the joint venture to save about $120 million annually over the next decade, a Peabody spokesman said the company doesn't expect the savings to come at the cost of miners' jobs.
The move combines the North Antelope Rochelle and Black Thunder mines, owned by Peabody and Arch respectively, into a single complex.
Peabody will own 66.5 percent of the joint venture, and Arch will own 33.5 percent. Peabody will manage all activities, including the marketing of coal.
