- Tongue River Railroad Co. -- a joint project by BNSF Railway, Arch Coal (ACI +2.9%) and a limited liability financing company -- has indefinitely suspended plans for a $400M railroad to haul coal from a proposed mine owned by Arch Coal.
- The Otter Creek Mine on the Wyoming-Montana border has run into concerns including delayed permits and a softening coal market overall. The TRRC had hoped to begin production at the mine by January 2017, but "with mine permitting delays and near-term market weakness, that timeline now appears unachievable."
- The company hasn't withdrawn its application, though, and BNSF's Matt Jones says TRRC could renew it once Montana issues a mine permit and lawsuits are resolved.
- Before the report, Arch Coal shares had jumped 15.7% after hours, following on a strong 2.9% gain today.