Sunday, November 17, 2019

NTEC Expects to Secure Bonding and Continue Operations after Navajo Nation Pulls Support

By Native News Online Staff - November 17, 2019 at 12:02AM

Published November 16, 2019

FARMINGTON, N.M. — After Tuesday’s decision by the Navajo Nation President Jonathan Nez and Vice President Myron Lizer to exercise termination provisions of the general indemnity agreements related to Navajo Transitional Energy Company’s proposal to use the indemnity agreements for bonds financially-backed relating to three coal mines located in Wyoming and Montana, NTEC officials on Friday issued the following statement:

“Navajo Transitional Energy Company continues to maintain operations and expects to secure all necessary bonds to continue operations without any delays.

We respect the decision of the Navajo Nation President to terminate its indemnity agreements with the sureties. The indemnity agreement was between the Navajo Nation and the sureties. The indemnity allowed for NTEC’s takeover and successful operation of Navajo Mine and Four Corners Power Plant.

In our assessment of acquiring

Spring Creek is one of the Cloud Peak Energy mines purchased by NTEC.

we realized the possibility that the Navajo Nation would not financially back the NTEC with indemnity agreements. We have been actively working with a broker to secure bonding to assure proper reclamation is performed at all the mines without a Navajo Nation guarantee. This action would resolve the concerns expressed by some members of the Navajo Nation, but will come at a greater cost to NTEC, and thus, the Navajo Nation. NTEC will ensure that proper bonding remains in place at all the mines at all times.

We are a Navajo owned company. As an entity of the Navajo Nation, our outlook and strategies have always been to place the needs of the Navajo Nation and Navajo People first. We will continue to operate as such, knowing that the work we do helps thousands of Navajo People and families. Rest assured, NTEC will continue to serve them directly with our programs and indirectly through our contributions to the Navajo Nation General Fund.

Our Navajo identity includes our relationship to the land where we operate. We respect our Mother Earth and will continue to perform reclamation that meets and exceeds federal mandates, much as we have done at Navajo Mine.

To our miners, we want to express our gratitude to the tireless work each of you perform daily. From award winning reclamation to new employment opportunities for Navajo people, NTEC’s success is built upon the hard work of our miners at Navajo Mine, and now Spring Creek Mine, Cordero Rojo and Antelope Mines.

We thank our supporters and we remain confident that NTEC will be a vibrant and successful entity of the Navajo Nation for years to come.”

The post NTEC Expects to Secure Bonding and Continue Operations after Navajo Nation Pulls Support appeared first on Native News Online.

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