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TheStreet Open House

Regulatory Hearing For Vista Scheduled For November 2013

Stocks in this article: CPT

Highlights:

  • The Alberta Energy Regulator has concluded its internal review of the Vista project and called a hearing to address concerns of four groups that have been granted intervener status
  • The hearing has been scheduled for November 25, 2013 and represents the final external review stage of the regulatory approval process
  • The Alberta Energy Regulator is required to render its final decision within 90 days of the hearing (early March 2014)
  • Assuming regulatory approvals are granted, construction is expected to commence in Q2 2014, with first production of coal towards the end of 2015

VANCOUVER, British Columbia, Oct. 3, 2013 (GLOBE NEWSWIRE) -- Coalspur Mines Limited ("Coalspur" or "Company") (ASX:CPL) (TSX:CPT) announced today that the Alberta Energy Regulator ("AER") has concluded its internal review of the Company's Vista project ("Vista") and has scheduled a hearing to start on November 25, 2013. The hearing is the final external review stage in the AER approval process of Vista and will focus on the concerns of the groups who have been granted intervener status by the AER.

The AER gave notice of a hearing on August 15, 2013 calling for submissions from potential interveners by September 10, 2013. The AER has now scheduled the hearing and determined that four parties have the right to participate in the hearing.

The outstanding concerns are limited to overlapping mineral development rights with an oil and gas company, namely Tourmaline Oil Corp., and development issues raised by three aboriginal groups. The aboriginal groups are Alexis Nakota Sioux Nation, Ermineskin Cree Nation and Whitefish (Goodfish) Lake First Nation.

Coalspur has engaged with numerous aboriginal groups for over two years and agreements have been reached with a number of these groups through this consultation process. Coalspur has also garnered strong support for Vista from the local community and has received numerous letters of support from key stakeholders, including the Town of Hinton and Yellowhead County. The Company believes that the concerns expressed by the intervening groups are capable of being appropriately dealt with.

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