Equity Participation
On an opportunistic and selective basis, we have chosen to participate as an equity/joint venture partner for energy and mining projects. Our ability to provide equity participation translates into lower-capital cost requirements and increased project visibility/viability to financial institutions.
Two of our most visible equity participation projects include the Absaloka Coal Mine in Montana and the MIBRAG lignite mine in Germany. At Absaloka, we were an equity participant with Westmoreland Resources, of which Westmoreland Coal Co. held an 80 percent share. At MIBRAG, our equity is 50 percent with the remainder being held by NRG Energy Inc.
