Latest news with #AtrumCoal
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
Alberta government slammed for incompetence as pays out $143M in coal policy reversal
EDMONTON - Alberta is paying out more than $140 million to end one of five lawsuits launched against it over its coal mining policies. A notice published online by Atrum Coal dated last week says the company has agreed to end its lawsuit and surrender its land back to the province in exchange for the payment. The company's notice says it received just under $137 million last week, and will receive another $6 million after it completes some reclamation work. It says the settlement proceeds will be distributed to shareholders. Atrum, which had initially sought more than $3.5 billion from the province, is one of two companies suing the province that announced settlements were reached last month. The other, Evolve Power, has yet to share details and in its own notice last month said its settlement had only been agreed to in principle and that terms were still being finalized. The company's notice said it expected to have an agreement finished in September. Atrum's payout drew criticism Wednesday, with Opposition NDP Leader Naheed Nenshi saying in a statement that Albertans should be outraged. 'Taxpayers are on the hook for nearly $150 million directly as a result of this government's flip-flopping on their coal policy,' Nenshi said. 'This money could have been used for teachers, nurses, schools or hospitals. Instead, it's going into the pockets of shareholders and directors of a coal company.' Stephen Legault, an Alberta-based senior manager with the advocacy group Environmental Defence, called the payout 'a phenomenal waste of taxpayers' money.' 'If the (United Conservative) government hadn't first rescinded (its coal policy) and then flip-flopped on a moratorium on new mining projects in response to demands by Albertans, we wouldn't be extorted to protect our headwaters from coal mining,' Legault said in a statement Wednesday. 'Every decision (Energy Minister Brian Jean) and Premier (Danielle) Smith make to bow to the interests of wealthy foreign coal mining companies means Alberta slips further and further behind the rest of the world in the energy transition.' Jean's office said in a statement that the government has no plans to lease the lands previously owned by Atrum again and the requirement placed on the company to complete reclamation work highlights the province's commitment to protecting the eastern slopes of the Rocky Mountains and Alberta's foothills. Atrum and Evolve are among five companies that are suing Alberta for a collective $16 billion. With Atrum's suit settled, Alberta could still be on the hook for over $12 billion. Evolve said in its statement of claim that it was seeking $1.75 billion. Four of the companies, including Evolve and Atrum, have argued that Alberta effectively expropriated their land when it suddenly reinstated its long-standing coal policy in 2022, putting new coal exploration and development projects on ice across much of the province. The policy was lifted less than two years prior, and companies had been encouraged at that time to buy land and leases for coal mining projects. Alberta lifted the coal policy again earlier this year in favour of a new rule system, and Smith said at the time that protecting taxpayers from a massive legal payout was something her government had in mind by lifting the policy. The fifth company suing Alberta, Northback Holdings — which in May had exploratory permits approved for its controversial Grassy Mountain project — is arguing that Alberta's regulatory process is flawed. Nenshi on Wednesday called on the government to publicly disclose the settlement it reached with Evolve and others if further settlements have been reached, but Jean's office said the details of the settlements remain privileged. 'That said, the Government of Alberta is working to conclude these matters fairly,' Jean's office said in an email. 'The outcome of these settlements will be consistent with Albertans' desires and best interests.' This report by The Canadian Press was first published July 23, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Globe and Mail
6 days ago
- Business
- Globe and Mail
Coal company wins $142.8-million from Alberta government over policy flip-flop
A coal company that was suing Alberta as part of a $16-billion lawsuit has reached a $142.8-million settlement over the government's flip-flop on coal policy. Atrum Coal Ltd. has agreed to drop its lawsuit and surrender its coal leases back to the government in exchange for the cash, according to a notice on the company's website. The province paid Atrum $136.8-million earlier this month, but will retain $6-million of the full settlement amount until reclamation works on the site are complete. Atrum said in the notice it would distribute the proceeds of the settlement to its shareholders, minus obligations such as taxes, director compensation, legal fees and amounts needed to cover reclamation works. Details of those amounts and timelines will be released at a later date. The company is one of two that have reached settlements with the province. The other is Evolve Power Ltd. (formerly Montem Resources Ltd.), though it has not yet posted details on its deal with the province. The Alberta government has not yet answered questions from The Globe and Mail about the Atrum settlement. Alberta regulator approves controversial coal exploration applications at Grassy Mountain At the heart of the lawsuits was a series of changes made to provincial coal policy by the United Conservative Party government. In 2020, it nixed land protection rules that dated back to 1976, prompting a furious public backlash that forced the government to reverse its decision the following year. The government then cancelled leases earmarked for potential new mines and declared an indefinite moratorium on coal exploration. In January this year, the Alberta government scrapped the series of ministerial orders that banned coal development in the foothills of the Rocky Mountains, returning to an older policy that in part relies on land categories to govern where mines are built. Companies that had already spent millions developing mine plans moved to recoup some of those costs by suing the province. The result was two lawsuits: one filed in 2023, the other in 2024. The first suit was a joint case involving four separate submissions to Alberta's Court of King's Bench by Evolve, Atrum and its subsidiary Elan Coal Ltd., Cabin Ridge Project Ltd. and Black Eagle Mining Corp. All were pursuing mines for metallurgical coal, which is used for making steel. The other suit was filed in June, 2024, by Northback Holdings Corp. It argued that the joint federal-provincial review of its proposed Grassy Mountain mine in the Crowsnest Pass was flawed and that dozens of provincial officials acted in bad faith when they 'consistently assured Northback that the Grassy Mountain Project would be subject to a fair and transparent regulatory process.'
CBC
6 days ago
- Business
- CBC
Alberta pays out $143M to company over coal policy reversal
Alberta is paying out more than $140 million to end one of five lawsuits launched against it over its coal mining policies. A notice published online by Atrum Coal says the company has agreed to end its lawsuit and surrender its land back to the province in exchange for the payment. The company says it received just under $137 million last week and will receive another $6 million after it completes some reclamation work. Atrum was one of two companies suing the province that announced last month that settlements were reached, but the other, Evolve Power, has yet to share details. The companies are among five that are suing Alberta for a collective $16 billion. They argue that Alberta effectively expropriated their land after it suddenly reinstated its long-standing coal policy in 2022 less than two years after it was lifted and companies had been encouraged at that time to buy land for potential mining projects.
CTV News
6 days ago
- Business
- CTV News
Alberta pays out $143 million to company over coal policy reversal
Grassy Mountain, peak to left, and the Grassy Mountain Coal Project are seen north of Blairmore, Alta., Thursday, June 6, 2024. (THE CANADIAN PRESS/Jeff McIntosh) Alberta is paying out more than $140 million to end one of five lawsuits launched against it over its coal mining policies. A notice published online by Atrum Coal says the company has agreed to end its lawsuit and surrender its land back to the province in exchange for the payment. The company says it received just under $137 million last week and will receive another $6 million after it completes some reclamation work. Atrum was one of two companies suing the province that announced last month that settlements were reached, but the other, Evolve Power, has yet to share details. The companies are among five that are suing Alberta for a collective $16 billion. They argue that Alberta effectively expropriated their land after it suddenly reinstated its long-standing coal policy in 2022 less than two years after it was lifted and companies had been encouraged at that time to buy land for potential mining projects. This report by The Canadian Press was first published July 23, 2025. Jack Farrell, The Canadian Press
Yahoo
6 days ago
- Business
- Yahoo
Alberta pays out $143 million to company over coal policy reversal
EDMONTON — Alberta is paying out more than $140 million to end one of five lawsuits launched against it over its coal mining policies. A notice published online by Atrum Coal says the company has agreed to end its lawsuit and surrender its land back to the province in exchange for the payment. The company says it received just under $137 million last week and will receive another $6 million after it completes some reclamation work. Atrum was one of two companies suing the province that announced last month that settlements were reached, but the other, Evolve Power, has yet to share details. The companies are among five that are suing Alberta for a collective $16 billion. They argue that Alberta effectively expropriated their land after it suddenly reinstated its long-standing coal policy in 2022 less than two years after it was lifted and companies had been encouraged at that time to buy land for potential mining projects. This report by The Canadian Press was first published July 23, 2025. Jack Farrell, The Canadian Press
