NGS 2019?

An insider source has informed LPNN that the Navajo Nation council has approved the lease agreement for the NGS power plant into 2019. The official vote was 18-4 in favor of the lease extension.

The final decision however, will be with Navajo Nation president Russell Begaye, who has to sign the decision into law. Once that is done, the partners who operate NGS will have to approve the decision on their end.

With the original lease agreement having several amendments placed on it, it is unknown at this time whether the agreement was approved with those amendments or without them. If it was approved with the amendments it is unknown at this time whether it will be acceptable to the shareholders of NGS. The process, however, has at least moved forward.

Now it is a waiting game to see exactly what will happen, and who ultimately will decide the fates of the power plant, the Kayenta Coal Mine, and all their employees.