ST. LOUIS – The St. Louis region will soon lose its headquarters for a coal mining company as Arch Resources intends to merge with Pennsylvania-based firm CONSOL Energy Inc.
The energy providers have a agreed to an “all-stock merger” to form a new company known as Core Natural Resources, according to a news release Wednesday.
Core Natural Resources will own 11 U.S. coal mines through the merger, a move that leaders say will create a more diversified and resilient coal supply chain across key markets while cutting costs. The deal is expected to generate between $110-140 million in annual cost savings.
“This merger will join two proven leadership teams and best-in-sector operating platforms to establish a premier North American coal producer with worldwide reach and world-class mining and logistics capabilities,” said Paul Lang, Chief Executive Officer of Arch, via a news release. “Both companies [Arch and CONSOL] are driven by a deep commitment to safety, environmental and social stewardship and operating excellence, and we will continue to build around these commitments as we work to deliver superior value to stockholders.”
Core Natural Resources intends to “maintain a presence in St. Louis,” according to the news release, but to what extent remains unclear. The merger is expected to close by the end of the first quarter of 2025.
For now, Arch Resources is headquartered at 1 CityPlace Drive in Creve Coeur.
