Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Athabasca Minerals Inc. (“Athabasca” or the “Corporation”) (TSX VENTURE:ABM) is pleased to announce it has entered into a long term land use agreement (the “Land Use Agreement”) with a large camp provider (the “Camp Provider”) to transfer a 42 acre parcel of developed land out of the depleted portion of Athabasca’s current miscellaneous lease at Poplar Creek to the Camp Provider. The Camp Provider has constructed a facility on the lease that can currently accommodate approximately 500 workers, primarily employed in the oil sands industry. Pursuant to the Land Use Agreement, the Camp Provider pays monthly fees to Athabasca. The Camp Provider also agreed to make a contribution towards the estimated cost of reclamation.
President Dom Kriangkum states, “This relationship with a large Camp provider is a significant development in our ongoing growth strategy to optimize opportunities within the oil sands region. By developing additional revenue sources for the Corporation, we can continue to benefit from increased activity in the area.”
The Corporation also announces the completion of an all weather road at the Corporation’s new Kearl aggregate pit.
About Athabasca Minerals Inc.
Athabasca Minerals Inc. is a resource company involved in the management, exploration and development of aggregate projects. These activities include contracts works, aggregate pit management, new aggregate development and acquisitions of sand and gravel operations. The Corporation also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta, for the purpose of locating and developing sources of industrial minerals and aggregates essential to high growth economic development.
Read the full news release here.
