Coalspur granted approval for Vista Stage 1
PERTH (miningweekly.com) – ASX- and TSX-listed coal developer Coalspur has been issued three approvals and licences for the Phase 1 development of its Vista project, in Canada.
The developer said on Wednesday that the Alberta Energy Regulator (AER) had approved the project for construction and operation under the Environmental Protection and Enhancement Act, while also approving the project to carry out construction and operating activities under the Water Act.
Coalspur was also awarded a licence to operate works and to divert a limited amount of ground and surface water, annually.
The final stage of the AER approval process was the issue of a mineral surface lease under the Public Lands Act.
Phase 1 of the Vista development, in the Hinton region of Alberta, would involve the construction and commissioning of a six-million-tonne-a-year thermal coal facility with the capacity to expand to 12-million tonnes a year.
Coalspur had previously announced that it would use the remainder of this year, and part of 2015 to conduct a strategic review of the funding options for the Vista project.
The review would consider alternatives such as securing full funding for the project, the sale of all or a portion of the company’s assets, the formation of a joint venture, a possible merger or the outright sale of the entire company.
Refinancing and recapitalisation would also be investigated.
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