2 big US coal companies combine Wyoming, Colorado operations

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FILE – In this April 30, 2007, file photo, a shovel prepares to dump a load of coal into a 320-ton truck at the Arch Coal Inc.-owned Black Thunder mine in Wright, Wyo. Two of the world’s largest coal producers have announced a plan to combine their mining operations in Wyoming and Colorado in a bid to improve their competitiveness against growing natural gas and renewable energy sources. Arch Coal and Peabody Energy, both based in St. Louis on Wednesday, June 19, 2019, announced the joint venture. It will be 66.5% owned by Peabody and 33.5% owned by Arch. (AP Photo/Matthew Brown, File)

Two of the world’s largest coal producers have announced they will combine mining operations in Wyoming and Colorado in an attempt to improve their competitiveness against natural gas and renewable energy sources.

Arch Coal and Peabody Energy are based in St. Louis and announced the joint venture on Wednesday.

It will be 66.5% owned by Peabody and 33.5% owned by Arch.

The companies say the deal requiring approval from regulators could save about $120 million annually in mostly operational costs over 10 years.

The plan involves the North Antelope Rochelle, Black Thunder, Caballo, Rawhide and Coal Creek mines in Wyoming and the West Elk and Twentymile mines in Colorado.

The mines employed about 3,300 workers in 2018.

The companies gave no guidance on future employment levels.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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