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374 facts · 512 sources · updated 2026-09-30

Fact mine-011

newrecordconfirmed Sept 17, 2026: Trust Lands board approved Valar's Carbon County lease with a purchase option (per transcript)
2026-09-17 · mine-011 · Utah Trust Lands Administration, Valar Atomics · up-front bonus payment to the trust: $400,000; appraised value of all 640 acres ($750/acre): $480,000; staff estimate of rent to the trust over 50 years: $35,000,000

At its 17 September 2026 meeting in Salt Lake City, the Trust Lands board took up the proposed SULA 2095 OBA with Valar Atomics, Inc. as an action item. The auto-generated transcript posted with the meeting records a motion to approve 'SULA 2095 OBA on the terms set forth in the board memorandum', a second, and the chair calling the vote unanimous. Terms in the memorandum: an initial lease of 480 acres (N1/2 and SW1/4 of Sec. 16), with the other 160 acres added if a Utah National Guard lease there is moved; 50 years plus two optional 25-year extensions; a $400,000 up-front bonus; $30 per acre a year in years 1-5, rising to $625 per acre by year 8, with CPI and 25-year appraisal adjustments; and an option to buy all or part at the greater of appraised value or the present value of 50 years of rent (about $10.2 million if bought in year 10, per the staff table). Staff said an independent appraisal valued the land at $750 an acre ($480,000 for 640 acres). As of 29 September 2026 the official minutes of the 17 September meeting were not yet among the posted attachments.

In plain termsA state board has agreed to lease Valar a square mile of school trust land near Wellington for up to a century, with the right to buy it. This is a land deal only: it does not approve a reactor, which would still need federal, state and county permits (mine-015). Carbon County residents were not asked to vote on it; the decision was the trust board's.
verified 2026-09-29: Re-read 2026-09-29: motion quote exact (15 words); vote recorded as unanimous in the auto-transcript; terms match the September memorandum (unchanged from August); staff said $750/acre ($360,000 for 480 acres; $480,000 for all 640) and ~$35 million over 50 years. The agenda lists the item as an action item though the memo's cover page reads 'Notification Item 10A'. Sept 17 minutes still not among the notice attachments (last edited 23 Sept). ETV quote corrected to exact case.

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