Coal Companies Abandon Future Wyoming Projects
CASPER, Wyo. — Coal companies have abandoned applications to mine nearly 2 billion tons of coal reserves in Wyoming this year.
Peabody Energy withdrew its four-year pursuit of the Antelope Ridge lease in October. The parcel near the North Antelope Rochelle Mine has reserves of 1 billion tons, or roughly a 10-year supply at current production levels.
The move followed a decision by Arch Coal in January to end its quest for a 957 million-ton lease near the Black Thunder Mine.
The Casper Star-Tribune reports that the actions come as coal companies seek to deal with a downturn in the industry that has prompted three major coal companies to file for bankruptcy this year.
Environmentalists say withdrawing the lease applications is good for the climate.