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CAMDEN PROPERTY TRUST T.CPT


Primary Symbol: CPT

Camden Property Trust is a real estate investment trust (REIT). The Company and its subsidiaries are primarily engaged in the ownership, management, development, reposition, redevelopment, acquisition, and construction of multifamily apartment communities. It owns interests in, operates and develops 176 multifamily properties comprised of 59,800 apartment homes across the United States. Its four properties were under construction and consist of a total of 1,166 apartment homes. The Company’s properties consist of mid-rise buildings or two- and three-story buildings in a landscaped setting, as well as high-rise buildings, and provide residents with a variety of amenities common to multifamily rental properties. The Company's properties include Camden Chandler, Camden Copper Square, Camden Foothills, Camden Legacy, and others. Its properties are located in Arizona, California, Colorado, Florida, Georgia, North Carolina, Washington District of Columbia (DC) Metro and Texas, among others.


NYSE:CPT - Post by User

Post by GRH1on Feb 17, 2012 3:58pm
444 Views
Post# 19551749

Hinton ParkLander

Hinton ParkLander

Coalspur project creates 900 jobs

 

By Craig Palmer

Posted 4 days ago
 

Things are heating up with Coalspur Mine’s Vista Project. What will be the largest mine in Canada stands to bring substantial economic benefit to both Hinton and Canada.

Coalspur’s Vista Project began as the Mercoal project in the early 1980’s, but was left untouched, as the price of coal at the time was too low to make the project worthwhile. With coal now reaching up to $150 a tonne - nearly four times as much as when the project was first started – the project is now not only viable, but will provide an economic boost to both the town and country.

The mine will create more than 900 jobs and over 30 years of work for the town of Hinton, starting with 200 jobs this time next year for the construction of the mine - providing the project passes the environmental assessment.

“Compared to Obed, Coal Valley and Cheviot, it’s more than all of those put together,” said Allan McGowan, Vice President of Vista Project Development for Coalspur. “It would be the largest one in Canada and probably the largest export mine in North America.”

At phase one, which will open in 2015, the mine will require about 400 jobs, including journeymen of all levels of expertise. McGowan said estimates from a third party indicate phase one of the project will produce 12 million tonnes a year. At phase two, planned for 2016, an additional 23,000 hectares will be mined with total recoverable coal reserves in excess of 100 million tonnes. It’s at this point that the mine will be providing the 900 jobs.

A train and a half a day will be needed from the currently under-utilized CN Rails to transport the coal to a Ridley Terminals port in Prince Rupert, B.C. where it will be exported to countries in the Pacific Rim. The federally run port has been under-utilized in the past, and has expanded its capacity to accommodate a 14-year term with Coalspur, which can be extended.

But with the mine a mere 10 kilometres away from Hinton, and taking up over 10 thousand hectares, Coalspur has worked with independent geological and environmental groups on an environmental assessment for over a year. The assessment will be presented to the Energy Resources Conservation Board for evaluation sometime in mid April.

“That’s why we have open houses and we’re in constant contact with the trappers, West Fraser, the fish and game club and all people that are associated,” said McGowan. “We’re involved with at least six first nation groups. We have discussions with them and we share all the information we have with regards to noise and dust and what we’re planning to do. We listen to what people have to say in the community.”

McGowan said people are generally receptive to the mine, though there are some concerns regarding noise, dust levels and water tables, all of which are being looked into.

“I think that, without any fear of contradiction, there has been very positive support from the community,” said McGowan. “This is giving people a tremendous future. 30 to 40 years of guaranteed work is quite significant to the town. The town, the mayor and the real leg up from MLA Robin Campbell, who was instrumental in helping us with the permit - are pulling together. We have open houses and the door is always open. We invite anybody who is having issues to come forward.”

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