Province Buys Coal Licenses in Klappan

Located in the northwest of B.C. between Stewart and Dease Lake, the area has special significance to the Tahltan.

Bennett says the move is being made so the Province and the Tahltan can develop a vision for the area which is known as the Sacred Headwaters of the Skeena River.

The purchase is being handled through BC Rail, which although no longer operating, has cash reserves and the mandate to buy the licences. The purchase price is $18.3 million and is being labelled a “license deferral” as the two companies which held the licenses, may be able to buy them back at that same price once the Province and the Tahltan have developed a plan for the region.

Fortune Minerals and POSCO Canada had held the licenses for more than a decade and planned on developing a mine in the area. According to the Province, the development schedule was “moving more quickly than discussions with the Tahltan Nation.”

“This is a fair solution that recognizes the investment made by the companies, secures the potential value of these assets for the future and respects the position of the Tahltan Nation,” said Bennett