Peabody And Arch To Combine U.S. PRB And Colorado Assets In Highly Synergistic Joint Venture To Unlock Approximately $820 Million In Synergies
Written by Basinradio on June 19, 2019
Arch Coal, Inc. and Peabody Energy Corporation today announced that they have entered into a definitive agreement to combine the companies’ Powder River Basin and Colorado operations into one.
Peabody and Arch announced a joint venture to work together with their mines in Wyoming and Colorado today, June 19th. Vic Wright had a chance to talk with Charlene Murdock Director, Corporate Communications for Peabody. Below is that interview.
As the operator, Peabody will manage all activities including the marketing of coal. Arch and Peabody will share profits, capital requirements and cash distributions of the joint venture in proportion to ownership percentages.
The joint venture will combine Arch’s Black Thunder Mine and Peabody’s North Antelope Rochelle Mine, which share a property line of more than seven miles – into a single, lower-cost complex. >>>CLICK HERE TO READ THE FULL RELEASE<<<