Navajo Nation company buys New Mexico coal mine

Created: 12/31/2013 7:34 AM
By: The Associated Press

FARMINGTON, N.M. (AP) - A company owned by the Navajo Nation now owns a northwestern New Mexico coal mine, and an Arizona utility has completed its purchase of a California utility's ownership shares of two units of a power plant that gets its fuel from the mine.

BHP Billiton completed the sale of the Navajo Mine near Farmington to the Navajo Transitional Energy Co. on Monday.

In a related transaction, Arizona Public Service Co. completed its purchase of Southern California Edison's ownership of Units 4 and 5 at the Four Corners Power Plant for approximately $182 million.

As another part of a previously announced plan to bring the plant into compliance with federal clean air standards, APS permanently closed units 1, 2 and 3 on Monday.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Photo: Courtesy photo

KOB welcomes a lively and courteous discussion as long as you follow the rules of conduct set forth in our Terms of Use. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use.

Join Our Email List