Crown Mountain, Canada
- Canadian coking coal growth project
Located in a mature mining region in British Columbia, Canada, with well-established transport infrastructure, Crown Mountain is a joint venture with Jameson Resources Limited that allows us to buy in over three stages (worth CAD $121.5m) to achieve 50:50 ownership.
We have committed to two of the three funding tranches, equalling a total investment to date of CAD $11.5m.
- We now hold a 20 percent equity investment in the Crown Mountain project, with the final subscription payment in Tranche One completed in October 2019.
- Coal quality testing confirmed the presence of benchmark premium hard coking coal in the North pit, with the South pit confirmed as a low volatile hard coking coal.
- The results from the testing being done as part of the bankable feasibility study are progressing well.
- Drafting of the Application for Environmental Assessment continued to make progress with key meetings held with regulators and stakeholders.