Summit Coal
Artist rendering of mine site and access road.
Summit Coal Limited Partnership and Summit Coal Inc. (collectively “SUMMIT”) were formed in 2011 and hold both the Mine 14 project and Mine 16S property. Mine 14 contains 121.1 million tonnes of measured and indicated resource and 18.9 million tonnes of mineable reserve (NI 43-101 report available on SEDAR). SUMMIT has achieved certain key milestones essential to commencing commercial operations of Mine 14. In 2011, the ERCB granted a Mine Licence and Permit to commence underground mining of the Mine 14 coal reserve. An amendment to this Licence was received in 2013 to increase the permitted run-of-mine production rate 2.7 times from 480,000 tonnes to 1,300,000 tonnes per year.
SUMMIT is a wholly owned subsidiary of Maxim Power Corp. (“MAXIM”). MAXIM has entered into an agreement (the “Option Agreement”) with Valory Resources Inc. (“Valory”) who will be paying for and advancing the remaining required approvals for construction and operation of the Mine 14 project, in exchange for the option to purchase SUMMIT from MAXIM under pre-agreed terms and conditions. The Option Agreement currently expires in February 2024 and there is no certainty that Valory will elect to purchase SUMMIT from MAXIM. MAXIM and Valory may, by mutual agreement, elect to extend the Option Agreement.
SUMMIT submitted updated regulatory applications to the Alberta Energy Regulator (“AER”) on June 2, 2023. The applications consisted of an Environmental Protection and Enhancement Act (EPEA) (Project Update and Resubmission application), Water Act (Fenceline Approval and Licence to Divert Water), Coal Conservation Act (Mine Permit and Licence amendments) and Public Lands Act (for two public lands dispositions). The AER reviewed the elements of the integrated application for completeness and on July 28, 2023 the AER opened the application for public comment for a period of 30 days, until August 28, 2023.
The public notice can be viewed on the AER website at https://www.aer.ca/regulating-development/project-application/notices/applications-1945552-1945553-001-00496728-001-00496729-001-00496730.
The applications can be viewed on the AER website at https://dds.aer.ca/iar_query/ApplicationAttachments.aspx?AppNumber=1945552 (application No.’s are 1945552 and 1945553).
For further information on the project, or to provide feedback please contact us at summitcoal@maximpowercorp.com.
