Arch Coal has withdrawn a coal lease proposal in the Powder River Basin in northeast Wyoming.
The company cited weak economic conditions in its request to the Bureau of Land Management to withdraw
West Jacobs Ranch lease application.
The proposed lease included almost 1 billion tons of coal and almost 6,000 acres of land.
The Gillette News Record reports that the BLM lists six pending lease applications in the Powder River Basin in various stages of the review process. The most recent was submitted in 2011, and most have been delayed because of the weak market.
The state uses federal coal lease bonuses as its main source of money to build schools.