Peabody Pays $446M For Controversial Wyo. Coal Reserves

Law360, New York (May 18, 2012, 5:46 PM EDT) -- Mining company Peabody Energy Corp.'s $446.2 million bid for Wyoming coal reserves that are currently at the center of a lawsuit by environmental groups has been accepted by a federal agency, it said Friday.

The five-square-mile block, which it won in a sealed bid auction from the U.S. Bureau of Land Management, sits adjacent to its flagship North Antelope Rochelle Mine and gives Peabody Energy control of an area known as South Porcupine. The company said it plans to file for permits to incorporate the area,...
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