Teck Resources Ltd. has withdrawn its planned 260,000-b/d Frontier oil sands mine project from Canada’s regulatory review process. Frontier was going to be sited between Fort McMurray and Fort Chipewyan in northeast Alberta.
The project was to have included surface mining operations, a processing plant, tailings management, and water management. Partially de-asphalted bitumen would have been transported via pipeline.
Canada’s federal cabinet was days away from deciding whether to approve or reject Frontier when Teck withdrew the project. Alberta Premier Jason Kenney described the withdrawal as “a grave disappointment to Albertans” and “what happens when governments lack the courage to defend the interests of Canadians in the face of a militant minority.”
Route clearing for TC Energy’s Coastal GasLink pipeline has been interrupted by protests. The company reported that 45% of the route, however, has been cleared.
As a result of this decision Teck will write down the $1.13 billion carrying value of the Frontier project.