Cloud Peak Energy Statement on Programmatic Environmental Impact Study, Federal Coal Leasing Program
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Colin Marshall, President and CEO
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Cloud Peak Energy Inc. President and CEO Colin Marshall has issued the following statement on the U.S. Department of the Interior announcement of a review of the Federal coal program and a moratorium on new federal coal leases until the review is completed:
“We are disappointed that after a robust set of ‘listening sessions’ on the coal leasing program last summer in which thousands of people across the West, from working class Americans to Governors, very clearly explained how important the coal leasing program is to their well-being and communities, sadly the administration has chosen to pander to special interest groups whose stated goal is to shut down the U.S. coal industry.
“Indeed these special interest groups who spoke against the current leasing system stated their objective was not to improve it but to ensure the coal was never mined. The current leasing system provides significant benefit to American taxpayers and is not broken.
“We believe this review process is not warranted and is aimed at delaying leases to ensure the coal is never mined, denying its economic benefits to the nation. Cloud Peak Energy paid $354 million in taxes and royalties to federal, state, and local governments in 2014. For the same year, we paid an additional $69 million for leases for future production. In the same year, our net income was only $79 million.
“We urge Western lawmakers at the state and Congressional level to ensure a timely and legitimate review process by the Department of the Interior. We do not believe this announcement will have any immediate impact on our operations, and we will continue serving our customers to provide safe, reliable and affordable electricity for our nation.
“We have a strong coal reserve position, in addition to our Youngs Creek and Big Metal projects which are non-federal coal and not impacted by [the] announcement.”
About Cloud Peak Energy
Cloud Peak Energy Inc. is headquartered in Wyoming and is one of the largest U.S. coal producers and the only pure-play Powder River Basin coal company. As one of the safest coal producers in the nation, Cloud Peak Energy mines low sulfur, subbituminous coal and provides logistics supply services. The Ccmpany owns and operates three surface coal mines in the PRB, the lowest cost major coal producing region in the nation. The Antelope and Cordero Rojo mines are located in Wyoming and the Spring Creek Mine is located in Montana. In 2014, Cloud Peak Energy shipped approximately 86 million tons from its three mines to customers located throughout the U.S. and around the world. Cloud Peak Energy also owns rights to substantial undeveloped coal and complimentary surface assets in the Northern PRB, further building the Ccmpany’s long-term position to serve Asian export and domestic customers. With approximately 1,600 total employees, the company is widely recognized for its exemplary performance in its safety and environmental programs. Cloud Peak Energy is a sustainable fuel supplier for approximately four percent of the nation’s electricity.
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