Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

CANDORADO OPERATING CO V.CDO



TSXV:CDO - Post by User

Post by chromyon Jan 21, 2011 10:11am
91 Views
Post# 18006801

Gov. decision of interest

Gov. decision of interestThanks goldengirl. Also here's a release as it may affect area properties: PROVINCIAL environmental officials are now handing over months of work to two cabinet ministers who will decide whether or not the planned $404 million Northwest Transmission Line goes ahead. The review officially ends today, leaving environment minister Murray Coell and forests, mines and lands minister Pat Bell 45 days in which to make up their minds about the project that is expected to lead to the development of at least two mines in the northern part of the province. “They can do three things: issue a certificate, not issue a certificate or request additional information,” says provincial Environmental Assessment Office official Kathy Eichenberger. The application as submitted by BC Hydro is as lengthy as it is complex, ranging from socio-economic to wildlife to detailed engineering issues. There view, which can only take 180 days, began last spring but was suspended several times so that specific issues could be studied. The 344km, 287kV line would run from BC Hydro’s Skeena Substation south of Terrace to Bob Quinn on Hwy 37 North. ImperialMetals is expected to build a line south from its Red Chris copper deposit to Bob Quinn and NovaGold and Teck Cominco are expected to build a line from their Galore Creek copper deposit, which is west of Bob Quinn. At the same time, AltaGas of Calgary is spending hundreds of millions to develop its Forrest Kerr run-of-river hydro project in the Iskut River and will build its own line to Bob Quinn to feed power into the provincial grid via the Northwest Transmission Line. The cumulative impact of the power line and what is expected to follow would result in several thousand jobs over the next several years, providing an economic boost to a region that has been in a recession for more than a decade thanks to a collapsed forest products industry. If approved quickly, construction work on the power line is to start this spring leading toward a late 2013 completion. Even without official approval, BC Hydro has been working toward a spring start, negotiating economic participation agreements with First Nations groups and choosing four company groups who will be asked to bid on the project’s construction. Still to be determined is whether the line will go through the Nisga’a Lava Bed Memorial Park, which will need provincial legislative approval. “BC Hydro is proposing a project with two alternate routes,” said Eichenberger. Federal environmental authorities have joined with provincial counterparts in examining the project. The federal government also needs to give its approval but, unlike the provincial government, federal cabinet ministers don’t have to respond within a set period of time. Federal authorities have, however, told the provincial authorities they will make best efforts to follow the provincial 45-day rule. As it is, the federal government is putting in $130 million of the estimated $404 million cost. AltaGas is adding another $180 million so it can gain access to the provincial power grid. That leaves $94 million for the province to provide but it is confident of recovering the cost through agreements with other companies wanting to tap into the power line.
<< Previous
Bullboard Posts
Next >>