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Navajo tribe-owned company bid $186,000 for 167 million tons of coal on federal Montana lands, equating to less than a penny per ton.

The sale marked the biggest U.S. coal lease in over a decade, but the rock-bottom price underscores coal’s dramatically diminished market value.

BILLINGS, Mont. — A Navajo tribe-owned company bid $186,000 to lease 167 million tons of coal on federal lands in southeastern Montana on Monday in the biggest U.S. coal sale in more than a decade.

The offer from the Navajo Transitional Energy Co. (NTEC) equates to one-tenth of a penny per ton, underscoring coal’s diminished value even as President Donald Trump pushes to mine and burn more of the heavily

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