March 19, 2008
Contact: Roger Alexander
BLM Holds Coal Sale
The Bureau of Land Management (BLM) Wyoming State Office held a coal sale today for the North Maysdorf Tract. The 446-acre tract is located about 15 miles south of Gillette, Wyo., and contains an estimated 54.7 million tons of mineable coal.
Cordero Mining Company, a subsidiary of Rio Tinto Energy America, submitted a bid for $43,797,200.00. The bid received did not meet or exceed BLM's estimated fair market value of the tract and will be rejected.
Larry Claypool, acting Deputy State Director, Minerals and Lands said, "BLM received only one bid for the tract. After reviewing the bid, we determined that it could not be accepted because it did not meet the estimated fair market value."
More than half of the electricity consumed annually in the United States is produced from the 1.1 billion tons of coal used domestically each year, 32 percent coming from Wyoming public lands. Last fiscal year, coal royalties of $398 million were collected and shared equally with the State of Wyoming.