BLM recieves one coal lease bid and rejects it

Sep 18, 2013

The Bureau of Land Management received a single bid at today’s/Wednesday’s coal lease sale and it has rejected that bid. 

Kiewit  Mining Properties bid 21-cents per ton on the Buckskin Mine Hay Creek Two tract. The tract has about 167-million tons of mineable coal and is adjacent to the Buckskin mine, which Kiewit operates.

However, the bid is the lowest the B-L-M has received since 2001.

B-L-M spokeswoman, Beverly Gorney, says ultimately the bid did not meet the B-L-M’s secret calculations of what’s considered fair market value.

"In the case of today’s sale, it was determined that their bid of 21 cents/ton did not exceed or meet fair market value and therefore we rejected the bid and we will not be issuing that lease based on this bid."

B-L-M’s previous coal lease sale received zero bids, which was a first for Wyoming