Fortune Minerals Limited (TSX:FT) announced its acknowledgement of the BC Government’s decision to restrict petroleum and natural gas development in the Klappan area of northwest BC. The Company reported that coal will remain unaffected by this decision.
As quoted in the press release:
Coal mining remains unaffected by this decision. Fortune and POSCO Canada Limited (“POSCAN”), Fortune’s 20% joint venture partner in the Arctos Anthracite Joint Venture (“AAJV”), recognize that the Arctos anthracite metallurgical coal project is located in an area of significant spiritual, cultural and environmental importance to the Tahltan and Iskut people, and are committed to sustainable development of the project for the benefit of Aboriginal groups and stakeholders.
Fortune, President and CEO, Robin Goad, commented:
Fortune will continue working toward development of the Arctos project and will continue consultation with local communities and Aboriginal groups to address concerns related to our project.
Get The Latest "Coal Price Forecast And
INN is the only resource online to offer an exclusive investor's report on coal investing and the global coal market (value: $49) – For FREE.
Coal Stocks To Buy" Report -
Yes, I want my free report.
Click here to download for free.