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US' Peabody Energy & Arch Coal to Consolidate Coal Mine Business in Colorado

https://en.steelhome.com [SteelHome] 2019-06-25 16:48:46

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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
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