The Alaska Mental Health Trust says nearly 10,000 acres will be offered in a competitive lease process.
KTUU reported the leases were announced in a public notice on Friday. The trust said on its website that the area is believed to have high-quality bituminous coal.
The trust will receive $4 per acre for every year of the lease and 5 percent of the gross value of all coal mined and sold from the site.
The application deadline for leases will be Dec. 16, with a bid awarded possibly by the end of the calendar year.
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