The Bureau of Land Management (BLM) Wyoming State Office announced today that the bid submitted by Kiewit Mining Properties, Inc., on behalf of its subsidiary, Buckskin Mining Company, Gillette, Wyo., for the Hay Creek II coal lease tract did not meet fair market value and was rejected.
The unsuccessful bid was $35,070,331.00 ($0.21 per mineable ton) for the Hay Creek II coal tract. The 1,254-acre Hay Creek II coal tract contains an estimated 167 million tons of mineable coal. The coal resource consists of all reserves recoverable by surface mining methods.
The lease by application (LBA) tract is adjacent to federal leases along the northern and western lease boundary of the Buckskin Mine.
The tract was offered for sale in response to a March 2006 LBA filed by Kiewit Mining Properties, Inc. They submitted the lone sealed bid.