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Navajo company looks into buying northern Arizona coal mine

Posted at 12:32 PM, Jan 07, 2019
and last updated 2019-01-07 15:33:54-05

FLAGSTAFF, Ariz. (AP) - A Navajo Nation energy company studying the purchase of a coal-fired plant on the reservation says it's looking into the mine that supplies it, too.

The tribal government asked the Navajo Transitional Energy Company in October to look into acquiring the Navajo Generating Station. Its owners are closing it at the end of the year, citing cheaper power from natural gas.

The energy company says it wants to keep the plant and Kayenta Mine open for at least another 10 years.

Peabody Energy owns the mine and had launched an effort to find a new buyer for the power plant to sustain its own business. Peabody said Monday it supports continued operation of the mine but didn't offer specifics.

The Navajo Nation relies heavily on the coal industry for revenue.