BLM rejects bid for coal lease tract (UPDATE)
The Bureau of Land Management received a single bid at today’s coal lease sale, and it has rejected the offer. Kiewit Mining Properties bid 21cents/ton on the Buckskin Mine Hay Creek II 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 BLM has received since 2001.
BLM spokeswoman, Beverly Gorny, says ultimately the bid did not meet the BLM’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,” says Gorny.
BLM’s previous coal lease sale received no bids at all, which was a first for Wyoming.