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Wyoming coal lease sales top 1 billion tons since May 2011

Steel News - Published on Sat, 10 Mar 2012

The US Bureau of Land Management has held its biggest Wyoming coal lease sale to date in a flurry of six such sales since just May 2011.

A subsidiary of St Louis based Peabody Energy on Wednesday bid USD 362 million for more than 400 million tons of Powder River Basin coal reserves.

BTU Western Resources was the lone bidder for the coal. The coal lies beneath a five-square-mile area next to Peabody\'s North Antelope Rochelle Mine.

Last spring, Interior Secretary Ken Salazar visited Cheyenne to announce four upcoming coal lease sales totaling 758 million tons. The BLM since then has sold the rights to even more coal than that: Almost 1.4 billion tons worth more than USD 1.3 billion.

Last year ranked second only to 2004 for sales of Wyoming coal reserves.

Source- Associated Press


Posted By : admin on Sat, 10 Mar 2012
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