mineral exploration project – commodity prices – mining stock- trade and market

Montana state government rejected offers from mining companies for coal mining exploration in the area of Otter Creek Powder River County, because the bids submitted by companies under the standards set by Montana’s Land Board. Bidding requirements provided by the state is the minimum bid $ 143 million, or 25 cents per ton, 12.5% of royalties from coal mines prices ready to be sent.

The rejection by Montana’s Land Board to get criticism from some Montana communities, because of Montana’s Land Board set the price too high against the leasing of land for mining exploration in Otter Creek. Department of Natural Resources director of the state of Montana will evaluate the minimum bid for the next offer and provide recommendations to the Montana’s Land Board.

Coal mines in the Otter Creek coal reserves estimated to have very potential, estimated coal reserves of 1.3 billion tons of coal. Some coal reserves controlled by the state and some of the rights of mining exploration company Arch Coal Inc. of St. Louis.

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