Cloud Peak Energy gets approval for deal with Crow Tribe

theflyonthewall.com

Cloud Peak Energy announced that the U.S. Department of Interior, has approved the option to lease agreement and exploration agreement signed by the Crow Tribe of Indians and a wholly-owned subsidiary of Cloud Peak Energy. Cloud Peak Energy paid the Tribe $1.5M upon BIA approval, as provided in the agreements, and will fund $75,000 in college and vocational scholarships annually beginning with the 2013-2014 academic year. Cloud Peak Energy has now paid a total of $3.75M in option payments to the Tribe and will make additional annual payments during the initial five-year option period that could bring total option payments during the initial period to $10M.

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