Government Investigating Modern Coal Development Ideals
Montem Resources Limited (ASX: MR1) has welcomed a move by the Government of Alberta to appoint an independent committee to undertake public engagement for a modern coal development policy.
Montem, which has a portfolio of coal projects in Alberta, also welcomes the Government’s commitment to work directly with Indigenous leaders and communities to ensure their perspectives are heard and considered as part of the policy review.
The Government’s plans to develop a modern coal policy follow its decision to rescind the 1976 coal policy in June 2020 and reinstate it in February 2021 after public concerns.
Following engagement, the committee will provide the Government with a report by November 15, 2021 that describes Albertans’ perspectives on coal development and provide recommendations about the Province’s development of a modern coal policy.
The Government of Alberta released a “Coal in Alberta Fact Sheet” (see below) which describes Alberta’s coal development process. Importantly, the Fact Sheet lists Montem’s two primary assets, the Tent Mountain Mine and the Chinook Project, on Category 4 Lands. Category 4 Lands contemplate surface mining, as defined by the 1976 Coal Policy.
Montem’s Tent Mountain Mine and Chinook Project are wholly within Category 4 Lands in Alberta, which are areas contemplated for open-cut mining under the 1976 Coal Policy
The company continues to operate under existing permits, unrestricted by the 1976 Coal Policy reinstatement, which restricts surface mining development on Category 2 lands
Montem Resources (ASX: MR1) is a steelmaking coal development company that owns and leases coal tenements in the Canadian provinces of Alberta and British Columbia. The Company’s objective is to become the operator of steelmaking coal mines in Canada by developing its properties in the Crowsnest Pass.
The company is planning an integrated mining complex in the Crowsnest Pass, focusing on low-cost development of open-cut operations that leverage central infrastructure. The first component of this objective is to re-establish mining at the Tent Mountain Mine.
Montem completed a Definitive Feasibility Study (DFS) on the Tent Mountain Mine in 2020. The DFS is providing guidance for the re-start project, with the aim to be exporting coal in 2023. Montem is also progressing the Chinook Project which covers historical mines that previously exported Hard Coking Coal to Japanese steel mills. The Chinook Project has the potential to produce multiple open-cut Hard Coking Coal mines, and the Company plans to explore, define and develop these mines.
