It was reported that the US' large coal producer Arch Coal and Peabody Energy will combine the coal mine business in Powder River Basin and Colorado, becoming a joint venture mining magnate, with a sales volume of more than 200 million tons.
Peabody Energy has 3 open pit mines and 1 underground coal mine in Colorado. The total output of 4 coal mines was around 112 million tons in 2018. Besides, Arch Coal has 2 open pit mines and 1 underground coal mine in Colorado, with a total output of 84.4 million tons in 2017.
With the merger of the 2 companies, the total production was expected to exceed 200 million tons. The 2 companies will invest in the mining industry through their joint venture, with 66.5% of the shares own by Peabody Energy and 33.5% by Arch Coal.
Source from Yieh Corp |