U.S. officials said Thursday that they misspoke when they recently announced they had approved an expansion of a Montana coal mine that would keep it operating for another 19 years.
U.S. Interior Department spokeswoman Heather Swift said the 60-million-ton mine expansion is under review. In an email, she blamed “internal miscommunication” for the incorrect announcement last Friday about Westmoreland Coal Company’s Rosebud Mine.
Officials with Englewood, Colorado-based Westmoreland didn’t immediately respond to a request for comment Thursday. The company’s stock price jumped 11 percent Tuesday after Friday’s inaccurate statement from the Interior Department.
Westmoreland has seen its stock price plummet over the past year, from more than $18 per share to a little over $1, prompting speculation it could follow other coal producers into bankruptcy. It settled at $1.30 at closing Thursday. Read More…
Latest posts by ET Energy World (see all)
- How far away are we from commercial fusion energy? - October 18, 2018
- When will the sun shine on the residential rooftop solar in India? - October 17, 2018
- OPEC, Allies Yet To Hike Output By One Million Barrels Per Day: Oil Minister - October 17, 2018