NTEC Must Keep Public, Nation Informed, Navajo Nation President Nez Says

Source: 
Native News Online
Pub Date: 
Sunday, December 1, 2019 - 12:02
NewsTags: 

Published December 1, 2019

WINDOW ROCK — Navajo Nation President Jonathan Nez said he expects Navajo Transitional Energy Company to keep the public in the loop.

After Nez terminated NTEC’s indemnity agreement two weeks ago, the company sent out a release stating they are maintaining operations and expect to secure all necessary bonds to continue operations without any delay.

“In our assessment of acquiring Cloud Peak Energy, we realized the possibility that the Navajo Nation would not financially back the NTEC with indemnity agreements,” stated NTEC”s release. “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 great cost to NTEC, and thus, the Navajo Nation.”

In August, the Nation and its leaders found out that NTEC had purchased the Cloud Peak Energy mines in Wyoming and Montana and since then this purchase has been widely scrutinized. The purchase was made final Oct. 24.

“If NTEC is able to secure bonds on their own, we expect NTEC management, their board, and their shareholder representatives, to keep the Navajo public apprised,” said Nez to the Times. “NTEC was created with the Navajo people’s money. There still remain unanswered questions related to NTEC’s financial status and other matters that need to be addressed.”