Bid made on state coal tracts near Ashland

Tools

By The Associated Press

Story Published: Feb 8, 2010 at 3:19 PM MST

Story Updated: Feb 8, 2010 at 3:19 PM MST

BILLINGS - Montana land officials will open at least one bid Monday from an entity that wants to lease more than a half-billion tons of coal near the Wyoming border.

In December, the Montana Land Board said it would take offers on the state-owned Otter Creek coal tracts near Ashland. Bids were due by 5 p.m. Monday. The state wants at least $143 million up front and annual royalty payments that could approach $1 billion.

St-Louis-based Arch Coal Inc., the nation's second largest coal mining company, already has leased adjoining tracts that hold an estimated 731 million tons of the fuel.

Arch paid less than half what the state wants, raising speculation that no one would bid for the Montana coal.

Add a comment

Name:

Comment: 1000 Characters Left

News, Sports, Weather for Great Falls, Helena, and all of Montana and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Great Falls Weather

Icon
Current Temp 37.0 °F
Overcast
Wind : North at 5.8 MPH (5 KT)
Pressure : 1021.2 mb
Humidity : 67 %
Click here for our video forecast
More Weather

Helena Weather

Icon
Current Temp 36.0 °F
Light Rain
Wind : West at 4.6 MPH (4 KT)
Pressure : 1022.2 mb
Humidity : 89 %
More Weather

On Demand

Stock Quotes
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Cast Your Vote

Have you stuck with your New Year's Resolutions?

  • Yes
  • No
  • I didn't make any resolutions this year

AP Video