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Compliance Energy Corp CPYCF

Compliance Energy Corp Is a Canada-based exploration and development company. The company is engaged in the exploration and development of resource properties. The firm is an exploration and development company working on resource properties it has staked or acquired, principally on Vancouver Island. It has interest in Comox Joint Venture (CJV), which holds the Raven Underground Coal Mining Project (Raven Project).


GREY:CPYCF - Post by User

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Post by beaverfeveron Mar 21, 2010 1:02pm
557 Views
Post# 16907521

Comox Hears Coal Presentation

Comox Hears Coal Presentation
https://www.canada.com/business/Comox+Hears+Coal+Presentation/2702591/story.html

Comox Hears Coal Presentation

 
 
 
 

ComoxCouncil got its chance to hear directly from the Raven Underground CoalProject Wednesday.

The Compliance Energy Consortium plans to openan underground coal mine six kilometres upland from the Buckley BayFerry Terminal by late 2012.

The company's CEO John Tapics ismaking the rounds at local councils - updating politicians on theprocess. On Wednesday, it was Comox's turn to hear the company's15-minute presentation.

The company is officially in itspre-application stage for the 200-hectare surface mine, which will haveportals to an estimated 100 million tonnes of metallurgical coal under3,100 hectares of land (about 12 square miles) in the hills above BaynesSound.

The company is still gathering information and studiesneeded to apply for an environmental assessment order, but hopes tofinish that process next month.

The assessment could be appliedfor as early as May, with additional public consultation this summer.

Tapicstold council about the ongoing public consultation and economicbenefits, including 200 high paying full-time jobs responsible forputting the largest part of $80 to $100 million back into the economy.

Withthe mine's lifespan estimated to be 20 years, several councillors hadconcerns about the potential for additional mining waste in the BaynesSound Area, which already has a contaminated coal hills at Union Bay.

Coun.Ray Crossley and Coun. Marcia Turner asked about the environmentalimpacts of the rock waste piles, left behind after the coal is separatedfrom it.

Tapics said there was no environmental impact and thewaste piles would be cleaned up and most likely replanted with treesonce the mine had closed its doors.

Coun. Russ Arnott asked whatwould happen if the consortium went bankrupt before the mine closed andwhether the company would be forced to leave a bond behind to pay thecosts.

Tapics said the bond was a part of the environmentalassessment and the company would be forced to post enough money for allreclamation activities.

cwiens@comoxvalleyecho.com

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