In an uncommon move, a coal company has outbid another firm for mining rights to millions of tons of coal in the Powder River Basin in Wyoming.
Peabody Coal Energy Corp., through a subisidiary, outbid Alpha Coal West for a lease to mine coal that is adjacent to mines owned by the companies.
The BLM announced the winning bid Thursday. BLM spokeswoman Mary Wilson told the Star-Tribune this sale was the first with bid competition since 2004.
Thursday, July 14, 2011
Coal: First Time Since 2004 -- Competitive Bidding for Coal Lease -- BLM -- Not a Bakken Story But Speaks Volumes Where Fossil Fuel Is Headed
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