Crow Tribe reaches agreement for coal resources on reservation
Posted: Thursday, August 2, 2012
The Crow Tribe of Montana reached a deal that could lead to the development of an estimated 1.4 billion tons of coal on the reservation.
Cloud Peak Energy
agreed to pay the tribe up to $10 million during an exploratory period. If the company exercises its lease options, the tribe will receive up to 15 cents per of coal, plus royalty and production taxes.
Cloud Peak will also be required to pay the tribe a total of $3.75 million once the deal is approved by the Crow Legislature and the Bureau of Indian Affairs
Crow lawmakers are reviewing the deal and will consider it during their next regular quarterly session, which takes place in October.
“The Cloud Peak Energy agreements we are presenting to the tribal Legislature for approval are the result of extensive negotiations, and we believe that they offer the best potential for developing the Crow Tribe’s coal resources in the southeastern part of the reservation," Chairman Cedric Black Eagle said in a press release
Get the Story:
Crow Legislature postpones decision on coal agreement
(The Billings Gazette 8/2)
Cloud Peak, Crow Tribe reach 1.4B ton coal deal
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