CONSOL ENERGY AND ARCH RESOURCES STRIKE MERGER DEAL TO CREATE $5 BILLION COAL MINING GIANT

Arch Resources will merge with Consol Energy in an all-stock deal to create a North American coal mining giant valued at more than $5 billion. There has been a lack of investment in new coal mines amid tight emission regulations, but the fossil fuel is expected to remain part of the energy mix for years to come, especially in countries such as India and China.

Shares of Consol gained 4.4%, while those of Arch Resources rose 2.3%. The combined company will have an export capacity of 25 million tons per annum across two shipping terminals.

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