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Article

23 Feb 2020

Author:
Reuters

Teck drops C$20.6 billion oil sands Frontier project, to take writedown

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Canadian miner Teck Resources Ltd has withdrawn an application to build its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, days before the federal government was to decide on whether to approve a project opposed by environmentalists and indigenous groups... The fate of the mine, which was first proposed in 2011, was expected to be decided next week in what had become a test of Canada’s commitment to reduce greenhouse gas emissions and repair relations with the country’s indigenous people.

... “The growing debate around this issue has placed Frontier and our company squarely at the nexus of much broader issues that need to be resolved,” Lindsay wrote in his letter. “In that context, it is now evident that there is no constructive path forward for the project.”... Trudeau’s office said in a statement he spoke with Kenney on Sunday about Teck’s decision, as well as the railway blockades, and “reaffirmed the government of Canada’s commitment to working with Alberta and the resource sector” to create jobs.