CBC News reported that Port Metro Vancouver has given Fraser Surrey Docks a permit to add a coal shipping facility to its existing terminal despite strong opposition from residents, environmentalists and municipal governments. Port officials have said that there will be a ban on coal storage at the facility, and that the project will include measures to reduce coal dust that could escape from barges and trains.
As quoted in the publication:
The proposed facility will transfer coal arriving from the U.S. on rail cars to barges, which would then carry the coal to nearby Texada Island to eventually be shipped to Asia.
The $15-million project is expected to create 25 direct and 25 indirect jobs.
The port notes coal is already the most heavily traded commodity at the port, and the amount shipped from the new facility would represent only a 10 per cent increase.
Get Our Expert Guide to Coal Investing FREE!Download this FREE Special Report, Coal Price Forecast 2015 Types of Coal, Coal Prices and Coal Stocks