The Bureau of Land Management Wyoming State Office announced Wednesday that Antelope Coal LLC from Gillette, submitted the qualifying high bid of $297,723,228 for the West Antelope II North Coal Tract.
A qualifying bid must meet or exceed BLM’s estimate of the fair market value of the tract. The high bid met the fair market value and was accepted.
The 2,837.63 acre West Antelope II North Coal Tract contains an estimated 350.3 million tons of mineable coal. The tract is located north of the Campbell/Converse County line approximately two to five miles east of State Highway 59 and adjacent to the western and northern lease boundary of the Antelope Mine.
Once a lease is issued, an annual rental payment of $3 per acre is required, along with a royalty payment of 12.5 percent of the value of coal produced by strip or auger mining methods and eight percent of the value of the coal produced by underground mining methods.