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Navajo's to Keeps 1,200 Workers after Buying 3 Coal Mines in Wyoming and Montana - Report

Coal News - Published on Mon, 07 Oct 2019

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AP reported that a Navajo Nation will retain 1,200 employees at three coal mines in Wyoming and Montana that it bought through a bankruptcy auction. The announcement came a day after a federal judge gave final approval for the transfer of the mines from bankrupt Cloud Peak Energy to the Navajo Transitional Energy Co. The purchase makes the Navajo company the third largest coal producer in the United States. It comes as the industry is reeling from closures of coal-fired power plants across the US Utilities increasingly favor natural gas and renewable energy sources over coal.

The deal covers Wyoming’s Antelope and Cordero Rojo mines Montana’s Spring Creek mine. Clark Moseley chief executive of Navajo Transitional Energy Co said that the company has a “solid record of returning mines to profitability.”

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Posted By : Rabi Wangkhem on Mon, 07 Oct 2019
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