Final Order Approved, Clearing the Way for Navajo Transitional Energy Company Purchase of Cloud Peak Mine Assets
Written by Basinradio on October 4, 2019
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware signed an order Wednesday giving final approval of the sale of the Antelope and Cordero Rojo mines in Campbell County and Spring Creek mine in Montana. Gillette News Record reports, the sale now makes the buyer, NTEC (Navajo Transitional Energy Company) the nation’s third largest coal producer. The Native corporation based in Farmington, New Mexico, will take over mines that employ about 1,200 people and pay about $230 million annually in federal and state taxes and royalties.