Wyoming Coal Mines Likely to Reduce Production This Year
CASPER, Wyo. (AP) — Financial reports indicate that some of Wyoming largest coal mines will likely make additional cuts to production this year.
A recent earnings report shows that Peabody Energy Corp. plans to drop its midrange production expectations by about 10 million short tons.
Peabody Energy operates the North Antelope Rochelle, Rawhide and Caballo mines.
Arch Coal is reporting a midrange guidance of about 5 million short tons less than last year. The company owns the Black Thunder and Coal Creek mines.
Peabody Energy's per ton margin for its Powder River Basin mines is projected dropped from $2.97 in 2017 to $1.70 this year.
Arch Coal's margin is expected to fall from $1.96 in 2017 to $1.10 this year.