diversified resource company Fortune Minerals Ltd. has started
an updated environmental assessment on its Arctos Anthracite
joint-venture mine with Posco Canada Ltd. (Poscan).
Fortune said it opened a 30-person field camp at the site July
2 to support the collection of environmental information to
permit its mine, wash plant and railway for the coal mine.
Much of the
environmental baseline information for the mine site has
already been collected under a previous plan. The company
submitted a revised environmental assessment in April. All
information collected will contribute to the completion of the
final environmental report, which will be filed in 2014,
The Arctos Anthracite
Project is located in northwest British Columbia. Fortune holds
an 80-percent stake in the venture, while Poscan, the Canadian
subsidiary of South Koreas Posco Ltd., owns 20
Poscan acquired its
stake in 2011 and is responsible for funding 20 percent of the
capital and operating costs for the project. It will receive 20
percent of the coal once production starts.
The company is aiming
to start production at the mine in 2016, Robin Goad, president
and chief executive officer of Fortune Minerals, told
AMM sister publication Steel First in
Fortune plans to sell
its anthracite metallurgical coal to international consumers,
primarily in the pulverized coil injection and sinter markets
for the steel industry in China and Vietnam.
A version of this
article was first published in AMM sister publication Steel