Peabody and Arch Coal unite against gas, renewables onslaught

US coal miners Peabody and Arch Coal on Wednesday announced that they would combine their Powder River Basin and Colorado assets in what they describe as a “highly synergistic” joint venture (JV) aimed at strengthening the competitiveness of coal against natural gas and renewables. The JV was expected to unlock synergies with a pretax net present value of about $820-million, the NYSE-listed miners said, stating that the average JV synergies were projected to be about $120-million a year over the initial ten years.