Court blocks Arch, Peabody thermal coal venture

Coal miners Peabody Energy and Arch Resources have terminated their proposed thermal asset joint venture (JV), after the US District Court’s ruling to block the transaction. In separate statements, the companies said on Tuesday that they were disappointed and disagreed with the verdict, arguing that the asset tie-ups would have served the best interest of stakeholders. Through the transaction, announced in June 2019, Peabody Energy and Arch had planned to combine their mining operations in the Southern Powder River Basin (SPRB), located in north-eastern Wyoming.