Md.-Based Foundation Coal Holdings’ Lease Bid OK’D
February 23, 2008
Foundation Coal Holdings Inc., of Linthicum Heights, a coal mining company, said an affiliate submitted a successful bid of $180.5 million on a new coal lease adjacent to the western boundary of the Eagle Butte Mine north of Gillette, Wyo. The bid, which was accepted by the Bureau of Land Management, a unit of the U.S. Department of the Interior, will be paid in five equal annual installments of $36.1 million. The lease covers approximately 255 million tons of minable coal on approximately 1,400 acres of federal land.
Originally published by Daily Record Staff & Wire Reports.
(c) 2008 The Daily Record (Baltimore). Provided by ProQuest Information and Learning. All rights Reserved.