Havre Daily News - News you can use

State lowers bonus bid for Otter Creek coal

 

Last updated ERROR at ERROR



The state Land Board voted 3-2 Tuesday to reduce the asking price for development rights to a vast reserve of publicly owned coal near the Wyoming border after not receiving any bids on an earlier offer. The board in December set the bonus bid at 25 cents a ton, or about $143 million. But by the Feb. 8 deadline received only a letter from St. Louisbased Arch Coal Inc. stating that the price for the coal near Ashland was too high. On Tuesday, the board lowered the bonus bid to 15 cents a ton, or about $86 million, and gave companies four weeks to respond. The bonus bid gives a company the ri...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2020