Company: NC
Filing Date: 2025-03-05
Form Type: 10-K
Source: 0000789933-25-000006
Chunk: 44

Company: NACCO INDUSTRIES INC
Filing Date: 2025-03-05
Form: 10-K
Item: Item 1
Chunk 44
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 the environmental impacts of their decisions and issue either an environmental

assessment or an environmental impact statement. There are certain actions associated with surface coal mining that may trigger

these types of assessments by federal agencies. When a NEPA action is required, we provide the required

information to the appropriate federal agency to enable it to complete the required study. Historically, this process has been

lengthy and may take several years to complete. In January 2023, the White House Council on Environmental Quality (CEQ)

issued interim guidance that instructs federal agencies to quantify GHG emissions and use the social cost of greenhouse gases to calculate a monetary metric associated with the proposed actions’ climate effects. The NEPA and interim guidance could adversely affect our ability to secure necessary permits.

On June 3, 2023, President Biden signed the Fiscal Responsibility Act of 2023 into law, which included certain provisions

collectively known as the Builder Act. The Builder Act includes amendments to NEPA which codify past regulatory reforms,

including narrowing what qualifies as a major federal action, limiting the scope of NEPA review to “reasonably foreseeable

environmental effects,” narrowing consideration of cumulative effects, directing agencies to only consider technically and

economically feasible reasonable alternatives and providing page limits and timelines for environmental impact statements and

environmental assessments. In April 2024, the CEQ finalized the revised NEPA rules. 

On February 16, 2025, CEQ issued a notice that it intends to rescind all CEQ NEPA implementing regulations. These actions have raised significant questions regarding how CEQ’s NEPA regulations and agency-specific NEPA procedures will be interpreted and enforced going forward. We are unable to predict what impact the new CEQ guidance will have on our ability to obtain governmental permits.

Federal Coal Leasing 

We enter into leases of Federally owned coal for a small portion of the coal mined at certain of our North Dakota mines. In July 2024, the Department of Interior’s Bureau of Land Management (BLM) published its North Dakota Proposed Resource Management Plan (RMP), which provided that no Federal coal which lies more than four miles away from a currently existing surface coal mining permit will be available for future leasing in North Dakota. In September 2024, the Company, along with other stakeholders, including the Governor of North Dakota, filed protests against the RMP. The BLM denied the protests and published the final RMP in January 2025. The State of North Dakota filed a challenge to the R