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Peabody and Arch announce plans to form joint venture
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On 19 June 2019, Peabody and Arch Coal announced plans to combine their Powder River Basin (PRB) and Colorado assets in a “highly synergistic joint venture.” The joint venture (JV) is valued at US$ 820 million and will split ownership and future profits at 66.5% (Peabody) and 33.5% (Arch). Peabody will operate the included mines and market future coal sales. However, the companies currently expect a lengthy approval process and will continue operating their respective assets independently until the JV is approved under antitrust laws.
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