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STANFORD, Mont.—A Denver-based company says it is buying 29,000 acres south of Stanford to mine coal.
American Power Corp. has an agreement to buy the Pace Coal Project for $1.95 million, according to reports filed with the Security and Exchange Commission.
The company said this week that tests have indicated there could be 410 million tons of bituminous coal at the site.
According to the sale documents, American Power will complete drilling and prepare a mine feasibility study with a mining plan for the coal reserve within two years.
The Great Northern Railway Co. previously mined 1.3 million tons of coal from the site.
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Information from: Great Falls Tribune,
