SHERIDAN, Wyo. (AP) — Cloud Peak Energy has purchased an undeveloped coal mine along the Wyoming-Montana border that has the potential to bring hundreds of jobs to the Sheridan area.

According to the Associated Press, Wyoming-based Cloud Peak paid $300 million for the Youngs Creek Mining Company, a joint venture between Chevron USA Inc. and CONSOL Energy Inc.

The mine is already permitted. A 2008 study found that developing it could create about 200 jobs at the mine as well as about 300 supporting jobs in the area, including in rail operations and retail businesses.

Cloud Peak says the mine is well positioned to support exports of coal to Asia through the Pacific Northwest if there's enough terminal capacity on the West Coast.
The company also owns the Spring Creek mine in Montana.