No bid on Montana's Otter Creek coal

The only "bid" submitted Monday to lease 570 million tons of state-owned coal in southeastern Montana's Otter Creek Valley turned out to be no bid — but coal-mining giant Arch Coal Inc. said it might be interested if the state lowers its asking price.

Gov. Brian Schweitzer, who voted in December along with the four other members of the Land Board to set the minimum bonus bid at 25 cents a ton, said Monday he's not discouraged by Arch Coal's non-bid.

Read the full story from the Montana Standard here.