Wyoming Nets $2B On Federal Coal Sales Since ’92
The coal industry says the state of Wyoming has earned just over $2 billion on federal coal lease sales over the last 20 years.
Marion Loomis, executive director of the Wyoming Mining Association, says Arch Coal’s successful $300 million bid in the Powder River Basin earlier this month pushed the state’s share of lease revenue to $2.08 billion.
The lease of the federally-owned coal by an Arch subsidiary came out to $1.35 per mineable ton, a new Wyoming record.
The state gets half the proceeds from federal coal lease sales and uses most of the money to fund schools.
The Associated Press reports that coal production in Wyoming has doubled over the last two decades. The mining association says more than 400 million tons are now mined each year.