Pace Coal Project
The Pace Coal Project is a coal mining project in central Montana that is to be operated by the American Power Corporation.
American Power is a member of the Montana Mining Association, and holds approximately 29,000 acres in Judith Basin County, Montana. The estimated resources in place, based on exploration work conducted by Mobil Oil Co. (now ExxonMobil Corp.), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
- Owner: American Power Corp.
- Parent company:
- GPS coordinates:
- Status Cancelled
- Type of coal: Lignite
- Mine type: Surface
- Number of employees:
- Recoverable Reserves:
August 2011: American Power wins permit for Pace Coal Project and begins drilling:
In August 2011 American Power received approval for the prospecting permit for its Pace Coal Project in Judith Basin County, Montana. The prospecting permit, which was approved by the Coal and Uranium Program of the Montana Department of Environmental Quality, authorized the company to carry out its first phase of the company's planned drilling program. American Power said its planned exploration drilling program consists of 61 drilling sites and will involve a total of 53,875 feet of drilling in three different phases.
It was announced on August 16, 2011 that drilling operations began at the Pace Coal Project.
American Power Corp. in Default
U.S. Securities and Exchange Commission issued an order declaring American Power Corp. in default. The decision noted that American Power Copr. is a revoked Nevada corporation. Based on the disappearance of the sponsor, it appears the Pace Coal Project is defunct.
Articles and resources
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To see a listing of coal mines in a particular state, click on the map:
- "American Power to Develop Advanced Montana Coal Project With 410MT Coal Potential" American Power Press Release, August 23, 2010.
- "American Power wins prospecting permit for Pace Coal Project in Montana" Muhammed Nadeem, Oil Marketer, August 9, 2011.
- "American Power Corp. Begins Drilling at Pace Coal Project, Montana" MarketWatch, August 18, 2011.
- Initial Decision on Default, U.S. Securities and Exchange Commission, December 15, 2015