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.