Vista start delayed - Coalspur
PERTH (miningweekly.com) – Dual-listed coal developer Coalspur has pushed back the start of construction at its flagship Vista coal project, in Canada, as it awaits development approval.
The miner reported on Friday that it had received a formal notice of hearing from the Alberta Energy Regulator (AER), which effectively confirmed that the project was in the final stages of the application review process.
Regulatory approval had initially been scheduled for the end of June this year, and the project had been scheduled for completion by mid-2015.
Following a final review in late September this year, the AER would then decide whether a hearing would be scheduled to resolve outstanding concerns regarding the project development.
There are currently seven statements of concern lodged with the AER against the Vista project, but Coalspur told shareholders that it continued to engage with parties which could be impacted by the development of the project, and added that it was confident that these discussions would be concluded within the timeframe stipulated by the AER.
“This notification from the AER confirms that the regulatory process for Vista is now in its final stages. We are working with the AER and their revised approval process and hope to resolve the outstanding issues in a timely manner,” said Coalspur president and CEO Gill Winckler.
“We are disappointed that construction of Vista will not be able to commence in September 2013 as previously expected; however, our development schedule includes numerous contingencies which will allow us to maintain the capital budget and achieve first production from Vista in mid-2015 as planned, assuming that we begin construction later this year.”
The Phase 1 development 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.
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