Coalspur signs deal for Canadian coal project development

12 January 2014 (Last Updated January 12th, 2014 18:30)

Coalspur Mines has entered into an agreement with Alexis Nakota Sioux Nation to develop the Vista thermal coal project in Canada.

mining

Coalspur Mines has entered into an agreement with Alexis Nakota Sioux Nation to develop the Vista thermal coal project in Canada.

The Alexis Nakota Sioux Nation was the last remaining First Nation party granted intervener status by the Alberta Energy Regulator (AER) and has now withdrawn as an intervener.

"We look forward to securing regulatory approval and being in a position to finalise our funding arrangements for the construction of Vista."

Coalspur president and CEO Gill Winckler said the company has been in negotiations with Alexis for over two years and the latest move advances Vista and enables Alexis to benefit from its success.

"Coalspur has engaged with numerous aboriginal communities for over two years and agreements have been reached with five other communities through this consultation process," Winckler said.

"We have now addressed the concerns of all the parties that were granted intervener status by the AER on 3 October 2013, and look forward to securing regulatory approval and being in a position to finalise our funding arrangements for the construction of Vista."

Following the withdrawal of Alexis as intervener, an individual has been granted a conditional opportunity to make a 30-minute presentation to the AER.

Coalspur has requested the AER to cancel the hearing, as it has now reached an agreement with all the relevant parties.

The AER is expected to make its decision in the next 90 days and Coalspur is continuing its work with several regulatory agencies relating to its applications for final approvals and permits for the Vista project.

Vista covers about 10,000ha of large-scale, surface mineable, thermal coal development.


Image: Vista provides large scale, surface mineable, thermal coal development. Photo: courtesy of FreeDigitalPhotos.net.

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