ST. LOUIS _ A federal judge on Tuesday blocked a proposed joint venture between two of the world's largest private coal companies, Peabody Energy and Arch Resources, that federal regulators argued would allow the companies to dominate the Powder River Basin coal market.
The Federal Trade Commission "has shown that there is a reasonable probability that the proposed joint venture will substantially impair competition in the market for Southern Powder River Basin coal," U.S. District Judge Sarah Pitlyk ruled.
St. Louis-based Peabody and Creve Coeur, Mo.-based Arch in June 2019 proposed combining the country's two most productive mines, which border each other near Wright, Wyoming. The companies have said the joint venture combining Peabody's North Antelope Rochelle Mine and Arch Coal's Black Thunder mine would "unlock synergies" of $820 million.
