Coal mining company sues Alberta government for $3.4 billion
A moratorium on Rocky Mountain coal mining has caused significant financial damage to a steelmaking coal project, says Cabin Ridge miner.
Cabin Ridge Holdings Limited (CRHL) believes its rights to land near Coleman, Alberta were infringed when the government decided to reinstate the 1976 Rocky Mountain Coal Policy. /p>
According to a press release from the Calgary-based company, the CRHL project would have created 500 jobs and generated $2 billion in revenue for the provincial and federal governments .
CRHL says it received no compensation after the government decided to reinstate the 1976 policy in February 2021, a policy the government had abolished a year earlier, paving the way for surface coal mining on the hillside. east of the Rocky Mountains.
It is therefore seeking compensation of $3.4 billion to cover its net present value loss. According to its lawsuit filed on June 27, the company also offers the possibility of compensation of $56 million plus future and contingent remediation costs.
Contrary to other mining agreements in the area, the CRHL company held full ownership of surface minerals on more than 5,000 hectares located 50 kilometers north of Coleman.
Always according to his request, the government's decision to prevent new surface coal operations in the region would have the effect of an expropriation for CRHL.
This action lawsuit comes 4 months after Energy Minister Sonya Savage announced an extended suspension of coal mining in the Rocky Mountains, which includes all land types, including Category 2 land owned by CRHL.
The office of the Minister of Energy declined to comment on the situation, s emphasizing that the case is before the courts.
With information from Helen Pike