Agreement Reached with Remaining First Nation Intervener
Vancouver, Jan 10, 2014 AEST (ABN Newswire) - Coalspur Mines Limited ("Coalspur" or "Company") (
ASX:CPL) (TSE:CPT) announced today that it has reached an agreement with Alexis Nakota Sioux Nation ("Alexis") with regard to the development of the Vista project. Alexis, the sole remaining First Nation party granted intervener status by the Alberta Energy Regulator ("AER"), has now withdrawn as an intervener in relation to the Vista project, both in relation to the AER as well as to the Alberta Utilities Commission.
The agreement formalizes the relationship between Coalspur and Alexis and creates mutually beneficial opportunities for business and provides for Alexis community infrastructure and programs. The agreement also ensures Alexis participation in the reclamation and ongoing environmental monitoring of the Vista operation. "We are pleased to have reached this agreement with Alexis and look forward to working with the Alexis community in the future," said Gill Winckler, Coalspur President and CEO. "We have been engaged in discussions with Alexis for over two years and now have a way forward that not only advances Vista but allows Alexis to participate in, and benefit from its success.
"Coalspur has engaged with numerous aboriginal communities for over two years and agreements have been reached with five other communities through this consultation process. We have now addressed the concerns of all the parties that were granted intervener status by the AER on October 3, 2013 and look forward to securing regulatory approval and being in a position to finalize our funding arrangements for the construction of Vista." In a statement, Chief Tony Alexis said "In building our relationship with Coalspur, all along we have been mindful of our responsibility to our past, present and future generations. I believe we have honoured these commitments and moved forward with Coalspur in a way that will provide Alexis with the tools and resources to prosper as a sustainable community while maintaining our values and principles as passed down from the teachings of our past and present Elders as stewards of our traditional territory. We are happy with the result and look forward to working with Coalspur for many years to come."
Following the withdrawal of Alexis as intervener in relation to the Vista project, no interveners remain other than an individual who has been granted a conditional opportunity to make a 30 minute presentation to the AER. Coalspur has requested that the AER cancel the hearing scheduled to commence on January 13, 2014 in light of the fact that the Company has now reached agreement with all relevant parties, addressing the concerns previously expressed by them.
With all other aspects of the regulatory approval process, including environmental and technical aspects, now complete, the AER is expected to render its decision within the next 90 days or sooner. In anticipation of the AER's decision, Coalspur continues to work with the various regulatory agencies relating to its applications for final approvals and permits for the Vista project.
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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