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Expected BLM auction for lease close to Raft River, Idaho

Expected BLM auction for lease close to Raft River, Idaho Raft River geothermal plant, Idaho, (source: U.S. Geothermal)
Alexander Richter 26 Jan 2011

The Bureau of Land Management is now exploring a potential lease auction for a 760 acres geothermal lease close to US Geothermal's Raft River project and power plant in Idaho.

Reported from Idaho, the geothermal developer U.S. Geothermal will see an auction for a geothermal lease neighbouring its Raft River geothermal power plant in the state.

The Bureau of Land Management (BLM) announced last week it will start a lease nomination for a lease of 760 acres along the Raft River. The nomination will be open for public comment until February 25 after which time the office will decide to allow the lease auction or not.

The potential auction could then happen as early as July this year, with royalties for the 10-year lease of $2,300/ year and starting royalties for less than 2 percent of gross electricity sales.

In a comment to local papers, U.S. Geothermal is supposedly not looking at a participation in the auction.

Source: Magic Valley