Share

Montana coal mine deal aims to boost Asian exports

|
News,Business,Montana,Coal

BILLINGS, Mont. (AP) — Coal companies have finalized a deal that consolidates ownership of a Montana mine and gives a Wyoming company an option to export coal through Washington state.

Ambre Energy and Cloud Peak Energy announced in a joint statement Monday that the deal involving the 120-worker Decker mine closed Sept. 12.

Australia-based Ambre took over Cloud Peak's 50 percent stake in the Decker mine and liability for $67 million in reclamation and lease bonds for the facility.

Cloud Peak, based in Gillette, Wyoming, gained the option to move almost 8 million tons of coal annually through a port that Ambre has proposed in Longview, Washington.

Ambre, Cloud Peak and other companies want to increase coal shipments to markets in Asia as domestic demand falters.

View article comments Leave a comment

More from washingtonexaminer.com