Peabody Energy and Arch Resources will not appeal a decision to block its proposed joint venture in ... [+] the Powder River Basin. The Federal Trade Commission intervened in February to try to stop the proposed joint venture, after voting 4-to-1 to seek a preliminary injunction. The pain for the coal industry has intensified during the economic crisis triggered by the COVID-19 pandemic. The decision to block the joint venture deals a blow to Wyoming, which had rooted heavily for the joint venture to be allowed. Wyoming's governor has been outspoken in his support of the joint venture.

Source: Forbes September 30, 2020 00:34 UTC