ntec

The Cordero Rojo Mine - taken when Cloud Peak was still the operator
Cloud Peak Energy

Governor Mark Gordon and the Navajo Transitional Energy Company have agreed to a Limited Waiver of Sovereign Immunity. The move resolves a barrier for the Navajo Nation-owned corporation in acquiring its mining permits.

Back in October, NTEC paid the recently bankrupt coal company Cloud Peak Energy in order to assume operations of three mines: Cordero Rojo, Spring Creek, and Antelope.

The Cordero Rojo Mine - taken when Cloud Peak was still the operator
Cloud Peak Energy

The company taking over Cloud Peak Energy's three mines in Montana and Wyoming has hit a snag in securing its surety bonds that are used to guarantee reclamation. The Navajo Transitional Energy Company (NTEC) expected the Navajo Nation to back its reclamation costs through a pre-existing agreement.

Logo for the Navajo Transitional Energy Company
Navajo Transitional Energy Company

Cloud Peak Energy Inc. has successfully closed its sale of three coal mines to Navajo Transitional Energy Company, LLC (NTEC).