Anglo American farewells Canadian coal asset

Anglo American has completed the sale of its Peace River Coal (PRC) operations in Canada, with Conuma Resources to take the reins.

The sale involved the transfer of all shares of PRC which has been on care and maintenance since 2014.

“We are delighted to have completed the sale of Peace River Coal to Conuma and hope to see the asset return to production under its new ownership,” Anglo American legal and corporate affairs director Richard Price said.

“The high-quality steelmaking coal tenures at Peace River Coal will be added to Conuma’s established five million tonne production capacity in British Columbia, helping ensure the asset is set up for a sustainable future for the benefit of First Nations partners and all our stakeholders.”

Conuma chief executive officer Brian Sullivan said adding PRC to its portfolio demonstrates its commitment to communities and business partners.

“We are humbled to be collaborating with First Nations, Anglo American, and British Columbia’s regulatory authorities on caribou conservation and recovery efforts, and other initiatives to reduce the impact of mining,” Sullivan said.

“Together, we are charting a path for sustainable mining today and into the future.”

As part of the sale, Conuma will continue supporting the collaborative Caribou recovery project, first initiated by the Saulteau and West Moberly First Nations in 2012.

This includes relinquishing certain tenures to protect caribou habitat and implement initiatives to support recovery.

“Today’s announcement shows that we can protect the environment, honour our treaty, and provide for long-term sustainable mining operations,” Saulteau First Nations chief Rudy Paquette said.

“Working together we can recover endangered caribou populations, attract investment, and create and protect skilled jobs right here in British Columbia and Treaty 8.”

West Moberly First Nations chief Roland Wilson said in the past, extractive companies have come to Treaty 8 and left the lands devastated and contaminated.

“Today, we are charting a new path with companies like Anglo American and Conuma to build sustainable development projects that bring a net positive effect to iconic species like Caribou, our community, and our way of life,” Wilson said.