Ambre Energy Files Counterclaim On Cloud Peak Energy

Ambre Energy Files Counterclaim On Cloud Peak Energy

Ambre Energy North America, Inc. and one of its subsidiaries, KCP, Inc., filed a counterclaim against Cloud Peak Energy, Inc. and its subsidiary, Western Minerals, LLC.

The two companies became partners last November with each holding a 50/50 share of mineral interests in land near the Decker Coal Mine. However, the counterclaim seeks to expel Western Minerals from the Decker Coal Company partnership, according to a media release from Ambre Energy.

The original lawsuit stems from a disagreement regarding the intended use of the Decker Coal Mine, 20 miles north of Sheridan. Ambre energy wants to increase production at the mine and sell the coal to Asian markets, but accuses that Cloud Peak Energy, who also owns the nearby Spring Creek Mine, wants the Decker Mine shut down. According to the lawsuit, Western Minerals accused Ambre Energy management of abusing their powers in the mine.

The Decker Mine has been in operation for 40 years, and a recent independent study determined the mine still has significant amounts of untapped coal resources.
The media release from Ambre Energy is attached below.

ambre_release.doc77 KB

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