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NTEC Confident about Wyoming & Montana coal Bonds

Coal News - Published on Fri, 15 Nov 2019

Image Source: Wyoming & Montana
Navajo tribal energy company officials expressed confidence that they will be able to secure necessary bonding for recently purchased coal mines in Wyoming and Montana without financial backing from the Navajo Nation. NTEC Governmental and External Affairs Director Steve Grey told “Our biggest operation is currently the Navajo mine. It generates very strong revenue for us and the Navajo Nation. Just from that asset alone, we are very well situated.”

But Navajo Nation President Jonathan Nez cited concerns about risk and a desire to move away from coal in announcing the tribe would not financially back the bonds for the Cordero Rojo and Antelope mines in Wyoming and Spring Creek mine in Montana.

NTEC purchased the mines from Cloud Peak Energy, which is going through Chapter 11 bankruptcy. The bonds would ensure the mines could be cleaned up if they ever closed.

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Posted By : Yogender Pancholi on Fri, 15 Nov 2019
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