Company Says Federal Decision Provides Clarity
Montem Resources Limited (ASX: MR1) has confirmed that the Minister of Environment and Climate Change of Canada has designated the Tent Mountain Mine Re-start Project to undergo a Federal Impact Assessment under subsection 9(1) of the Impact Assessment Act.
Montem Managing Director and CEO, Peter Doyle, said the Federal Impact Assessment is a timely and effective process but is still likely to delay permitting for the Project, which was scheduled to produce first coal in 2023.
Environment Canada, through the Impact Assessment Agency of Canada has twice previously reviewed the Tent Mountain Re-start Project and confirmed that it did not meet threshold limits that would trigger a Federal Impact Assessment.
Mr Doyle said that in making the determination to designate the Tent Mountain Mine Re-start Project to undergo a Federal Impact Assessment, Minister Wilkinson took into account that the Project may cause adverse effects to the transboundary environments, Indigenous peoples and fish and fish habitat, given the uncertainty related to the effectiveness of proposed measures to avoid deposition of selenium and other deleterious substances. Minister Wilkinson also took into consideration public concerns related to these potential effects and the context that the entire Project is not captured in a single provincial assessment.
“We note Minister Wilkinson’s decision to designate the Tent Mountain Mine Re-start Project to undergo a Federal Impact Assessment. This means we now have clarity on the regulatory pathway required to re-start the mine, although this will likely result in a delay to the planned start date of 2023,” Mr Doyle said.
Throughout 2020 and 2021 we have been preparing the Environmental Impact Assessment (EIA) and are on course to lodge the EIA with the provincial regulator later this year. We remain confident we are designing and presenting a project at Tent Mountain that minimizes the impact on local environment. By completing our mine plan and implementing our water management plan through the active mine life and the reclamation and closure plan, resulting in a reduction of downstream selenium levels from the current levels.
“The company continues to assess additional mechanisms to monetize our assets and deliver shareholder value. We continue to work on an update of the JORC resource estimate for the Chinook Project, and have also been assessing additional, complimentary assets.”
“It is currently unclear how substantial any permitting delay the Federal Impact Assessment will cause to the Project. Montem will continue to monitor the situation and keep the market advised accordingly.
For further information please visit: https://montem-resources.com/
