Cloud Peak Energy reaches an agreement with a landowner near the Cordero Rojo Mine in Wyoming to acquire surface access to an additional 95 million short t of coal and increase future development of the mine.
The agreement involves a land exchange and production payments from any future sales of the underlying coal, which includes certain recoupable advance production payments.
The additional coal includes tons directly under the obtained land and adjacent tonnage that is expected to become available for future mining as a result of acquiring the surface access.
Edited from press release by Harleigh Hobbs
Read the article online at: https://www.worldcoal.com/coal/25082015/cloud-peak-energy-expanding-cordero-rojo-mine-2777/