Re: Teck pulls application for Frontier oil sands mine
in response to
by
posted on
Feb 24, 2020 09:23AM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
"after how much money was poured into that, do we really think they will want to invest more in Canada? I know I would love to hear yes, but doesn't this just sour them here?"
I don't see why not. Teck is a Canadian company and the cancellation of Frontier was Teck's decision. Whatever Teck might think of the federal government's approach and however much that approach might have influenced Teck's decision, the fact is that the price of oil is never going to rise to the point that Frontier would have become profitable. As has been said on numerous occasions, the project would most probably have never gone ahead anyway, even given approval from the government. And with Tahltan involvement and approval every step of the way I don't understand why Teck isn't moving ahead with Schaft Creek NOW!