Local

Arch Coal to Mine Northeast Wyoming

View Comments
Arch Coal

CHEYENNE, Wyo. (AP) — A subsidiary of St. Louis-based Arch Coal has submitted a successful bid of just over $300 million for the right to mine more than 200 million tons of coal in northeast Wyoming.

The U.S. Bureau of Land Management announced the sale Wednesday, saying the bid by Ark Land Company met or exceeded fair market value for the coal.

The 222 million tons of coal sits beneath more than three square miles of land next to the lease boundary of the Black Thunder Mine in the Powder River Basin.

The value of the federally owned coal comes out to $1.35 per mineable ton.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 4,117 other followers