The Crow Tribe of Montana will hold a signing ceremony today for a coal resources agreement.

Cloud Peak Energy will pay the tribe $2.25 million up front for exploration rights and exclusive options on an estimated 1.4 billion tons of coal. The tribe will receive another $1.5 million once the agreement is approved by the Bureau of Indian Affairs.

The deal calls for Cloud Peak to make additional annual payments, for up to $10 million total. The firm will also provide $75,000 a year for scholarships, an amount that will double to $150,000 once development begins.

The agreement will be sent to the BIA for review.

Get the Story:
Crow Tribe to sign 1.4B ton coal deal with Cloud Peak Energy (AP 1/24)

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