$18 million dollar Klappan coal license price ‘reasonable’ (Terrace Standard)
The $18 million paid by a provincial crown corporation to buy out a joint venture’s coal licences in the Klappan area in northwestern B.C. was reasonable, says an official from one of the companies in the joint venture.
The purchase of the 61 licences from the Arctos Anthracite Joint Venture owned by Fortune Minerals of Ontario and POSCO Canada, a Korean subsidiary, by BC Rail ends for now what has been more than a decade of controversy over development in the region.
Also known as the Sacred Headwaters, the Klappan is within Tahltan traditional territory and the Tahltan have objected to attempts at industrial development in the area used for an array of cultural practices.
(To read complete source article, click "Terrace Standard")