Reported 2 days ago
A Navajo tribe-owned company has bid only $186,000 to lease 167 million tons of coal in the largest U.S. coal sale in over a decade, reflecting the declining value of coal as it amounts to just one-tenth of a penny per ton. The Bureau of Land Management has not yet decided on the bid, which is in stark contrast to previous sales, and marks a significant shift in the coal market amid increasing environmental concerns and a drop in demand from utilities.
Source: YAHOO