Powder River Basin coal lease sale gets zero bids
Today’s coal lease sale of nearly 150 million tons of mineable coal in the Powder River Basin received zero bids.
It’s the first time the Wyoming office of the Bureau of Land Management has received no bids for a sale. Cordero Mining, a subsidiary of Cloud Peak Energy, asked BLM to open the tract in 2006. It's adjacent to an operating Cloud Peak mine.
But Cloud Peak CEO Colin Marshall says things have changed since then. In a press release, he cited current coal market conditions and regulatory uncertainty as factors in the company's decision not to bid.
The BLM would not comment.