Ivanhoe’s Kipushi zinc mine in the DRC officially reopens
The restart marked exactly a century since the mine first went into production.
A joint federal-provincial review panel is calling for public comments on Teck Resources’ (TSX:TECK.A and TECK.B)( NYSE: TECK) multibillion-dollar Frontier oil sands project, to be built about 110 kilometres north of Fort McMurray, in Alberta.
Frontier is expected to cost more than $20 billion, with first oil coming in 2026.
The company, Canada’s largest diversified miner, has not yet committed to building the 260,000 barrel per day mega-mine. But if it goes ahead with it, Teck believes it won’t start producing until 2026 at the earliest.
For now, the Vancouver-based company is busy moving forward with its Fort Hills oil sands project, a joint venture with Suncor Energy (TSX:SU), which is expected to begin production later this year.
The review panel for Frontier, a project that needs more than $20 billion to be taken off the ground, said it expects to collect several sets of responses over the coming weeks. After they have all been received, the panel will post them online.
If approved, Teck estimates the Frontier mine will directly employ up to 7,000 workers during construction and up to 2,500 workers during operation.
6 Comments
Dana Chanasyk
Don’t do it. As long as the Frackers can increase production at will, oil prices will remain low.
patentbs
Too much input and not enough thought. The Canadian way.
Kenneth Viney
Create jobs, by 2025 Justin will have driven the country into bankruptcy, most progressive liberals will have cut the cable and stopped watching the US PROGESSIVE LIBERAL MASS MEDIA NEWS and will vote conservative, the project will be permitted and Fort Mckay natives will all be millionaire snowbirds living in huge condos in Miami Beach Florida next door to ROGER GRUBEN OF TUK NWT.
Caper Nova Scotia
Don’t the Indians harvest sweet grass , make birch bark canoes and use the wild horses there?…no they don’t do that anywhere…but that will be the story when it comes to royalties
bik3much
There are other industries in which we can build jobs and careers. We should be using our non-renewable resources smartly to help us transition away from it to more sustainable fuels and energy sources while simultaneously betting on our youth and education systems. Canada has high quality data, well stored data, data within corporate knowledge/memory, and some of it structured enough to use for machine learning. This type of data is not readily available to Google, Amazon, or Apple for example to ‘mine’. Much of it is within our collective human expertise and we squander Canada’s educated, experienced citizens if we don’t both improve upon it with artificial intelligence and pass it on to our children. AI, though not without its potential drawbacks, could allow future generations to focus on different, at this point unimaginable, possibly countless advances for society while improving Canada’s competitiveness and productivity (hopefully as a whole leading to higher quality of life). The Canadian population’s general level of education is both a weakness and a strength. It is a weakness in that individuals may feel ‘protectionist’ toward their job and career, rightly so because many have invested time and expense to develop their skills but this undermines our collective progressiveness toward adapting to change brought externally. It undermines our internal-motivation to pursue different avenues that do not rely on extracting non-renewable resources. That level of education is also an asset for Canadians when it comes to machine learning and artificial intelligence simply because it is a product of our people, our education system, our governments, and our many private entities. Eventually Google may mine it all but Canadians should be first to try it in various corporate and public settings that are Canadian-based. Do any of my thoughts follow?
Mike Schoen
Frontier Mine is an excellent project. Comparing a $10 billion oil sands project to a $10 billion shale oil project would show that the oil sands project has a greater rate of return, lower production risk, and guess what? lower energy intensity per barrel of oil produced.