The Trump administration had put the rule on hold after mining companies challenged the regulation in federal court.
Today's action repeals the Obama-era rule and begins a process seeking public comments on whether to change the way the government values coal mined on federal lands.
The Trump administration described the repeal as another sign it has stopped a so-called "war on coal" by the federal government. President Donald Trump lifted a moratorium on the sale of coal mining leases on federal lands last week and rolled back Obama-era regulations aimed at curbing climate-changing emissions from coal-fired power plants.
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