May 24, 2016 - 3:09 PM
CALGARY - A three-member federal-provincial panel has been appointed to conduct an environmental review of Teck Resources' proposed Frontier oilsands mine in northern Alberta, a project Teck says won't start producing oil until 2026 at the earliest.
Authorities in Ottawa and Alberta say the panel will be given an extra three months to submit its report in view of the affect of the Fort McMurray wildfires on local residents and indigenous groups.
That means its due date will be in 13 months or June 2017.
A decision is then expected from the federal cabinet four months later.
In May, Vancouver-based Teck (TSX:TCK) said its earliest first oil date for the 260,000-barrel-per-day Frontier project is 2026 — a five-year revision from the original timeline of 2021 — due to the time expected to receive regulatory permits in light of project revisions.
Last summer, Teck said it would build Frontier in two phases instead of four.
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News from © The Canadian Press, 2016