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.