The Alberta government is facing a more than $3.4\u002Dbillion lawsuit over its decision to end all new coal\u002Drelated exploration on the eastern slopes of the Rocky…
Calgary-based Cabin Ridge Project Ltd. and its parent company, Cabin Ridge Holdings Ltd., say the decision in March amounted to an effective expropriation of “their freehold mineral rights and coal leases.”
The court document says Cabin Ridge has paid about $56 million to acquire, invest in and take steps to explore and develop the property, which is designated as Category 2 under a 1976 provincial coal policy. “Notwithstanding Alberta’s immediate, indefinite and complete ban on coal exploration and development on the Cabin Ridge Property, Alberta has not compensated nor offered to compensate Cabin Ridge or CRHL,” it says.Article content
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