Coalspur Mines has secured a mine permit and coal processing plant approval (the permits) from the Energy Resources Conservation Board (ERCB) for its Vista coal project located in Alberta, Canada.
The receipt of the permits completes the transfer process initiated in November 2010 following the acquisition of the McLeod River North Block and Z Block coal properties that completed in October 2010.
The mine permit covers an area of 4,880 hectares and stipulates that all mining and related activity be in accordance with the original 1982 applications and supplemental filings and any subsequent technical information that the ERCB may approve.
The company will be required to obtain ERCB approval for any technical modifications to the development plan before effecting such modifications.
The company will also be required to limit the first stage construction of the tailings pond to a five-year capacity, investigate the merits of increasing tailings recycling and keep the ERCB informed of progress.
The company said the permits will expire on 31 December 2016 unless Coalspur satisfies the ERCB by no later than 1 October 2016.
Coalspur Mines also said the construction is currently scheduled to start in 2012.
Coalspur Mines managing director and CEO Gene Wusaty said the granting allows the company to progress the bankable feasibility study and pre-construction planning for the Vista with a much higher degree of certainty.