Navajo Transitional Energy Company, a wholly owned limited liability company of the Navajo Nation, is about to close a big deal that will substantially impact Wyoming, and potentially the country as a whole.
According to the Casper Star Tribune article entitled, Navajo Nation Coal Company Receives Approval to Purchase Cloud Peak Mines, Navajo Transitional Energy Company was the successful bidder and has received court approval to purchase the Wyoming’s Antelope and Cordero Rojo mines, located in the Powder River Basin, out of bankruptcy. The Spring Creek mine located in Montana was also reportedly included in the sale to the Navajo Transitional Energy Company.
This historic sale is the high note of the week, as the economic benefits not only to Wyoming, but to the Navajo Nation and the United States as a whole, will be significant.