SNL Energy Quotes Manatt Partner on Navajo Nation, BHP Coal Mine Deal
"Navajo Nation, BHP Finalize Tribe's Purchase of Navajo Coal Mine"
SNL Energy
October 31, 2013 - SNL Energy quoted Manatt's Craig Moyer, chair of the firm's Land, Environment & Natural Resources Division, on the Navajo Nation's signed agreement with mining giant BHP Billiton to purchase the Navajo coal mine in New Mexico.
SNL Energy reports that the purchase will preserve the jobs of hundreds of tribal members who work at the mine and the nearby power plant it serves. The tribe formed Navajo Transitional Energy Co. LLC and funded it with $4 million in initial capital to help finance the purchase.
Moyer, who was lead counsel for the Navajo Nation, told the publication that the purchase of the mine will provide the tribe with a bridge to investment in renewable energy projects. "The signing of the purchase agreement today is an important milestone for the Navajo Nation and its Navajo Transitional Energy Company," he said. "If the deal can be closed and permits and environmental documentation secured for operation beyond 2016, the Navajo Mine will be a bridge to the clean energy future and provide the revenues to pay for it."
Read the article here.