Mayor's Interview with the Calgary CBC, Eye Opener show

The following link is to a radio interview done by the Calgary Eye opener August 16 with our Mayor Bruce Decoux..


http://www.cbc.ca/video/news/audioplayer.html?clipid=2401401234


The only things I would disagree with are timing, he talks about four years to the mine operating that is certainly not consistent with any where else in Alberta the regulatory process is lengthy. This week the press release from Elan mining stated the regulatory process in Alberta takes about seven years.

The employment numbers the Mayor states that for every job at the mine there will be seven jobs else where in the community. That would mean in the Elk Valley, where Teck employees roughly 3000 people there should be 21,000 other jobs in the community?

Let's not forget that both these proposed mines are located in the MD of Ranchlands. So even if they move forward we will see the benefits of jobs, new people moving to the community and spending their pay cheques here. What we will not see for a considerable amount of time (if ever) is the tax revenues from these two proposed operations.

Irregardless still very good news for the Crowsnest Pass.

Elk Valley-Bingay Mine plans suspended

This article appeared in today's Fernie Free press plus I have added a second article about the same company back from a more optimistic time (January). 

"Centermount suspend plans for new Elk Valley mine"

http://www.thefreepress.ca/news/202035511.html

"New coal mine company plans to start production in 2016"

http://www.thefreepress.ca/news/138010303.html



Much more positive news about the coal industry in general released today.

Despite its many doubters, the coal industry could soon roar back to life

http://www.canadianbusiness.com/investing/back-in-the-black/

Riversdale Presentation

Just got back from the Riversdale presentation, would have been earlier but apparently my invitation got lost in the mail.
Good turnout I would say roughly 100 people, the folks from Riversdale gave a little back ground about themselves, explained why they were here and then answered a few questions. They made it clear that nothing is guaranteed and best case scenario they will start production in 2017 if everything goes perfectly. (Very much in line with my previous comments of 5-10 years).
Either way I do not believe our community can lose, hopefully this will bring some economic activity to our town. Unfortunately it will not increase our tax base due to being in Ranchlands, but the people will live here, put their kids in our schools and spend their money in our local businesses those are good things.
Yes I think these people are here to take advantage of our resources and make lots of money, that is a good thing healthy companies create good jobs.

Note: One comment I found interesting from Mr Dann (Spelling?) was his comments about how he has been coming here for a while and that just a few months prior to purchasing the land he gave the Mayor a courtesy call to see how accepting he felt the community would be about them coming here. Certainly took the bite out of the assumption some people have been making that Mayor and Council have been working on this for a long time and were very instrumental in bringing them here.  

Either way good to see them in our community and hopefully 5-10 years from now the coal industry will return to the Crowsnest Pass.

Riversdale Speeds up Australia IPO Plan after Canada Coal Buy

More news on the return of coal mining to the Crowsnest Pass.

http://blogs.wsj.com/dealjournalaustralia/2013/01/11/riversdale-speeds-up-australia-ipo-plan-after-canada-coal-buy/

Who is Riversdale Resources?

Who is Riversdale Resources? I have been asked this question by a lot of people already, news travels fast.

So I would recommend that everybody check the following out for themselves, welcome them to the Crowsnest Pass and hope their venture works for all of us:

http://www.gleneaglesecurities.com/ipo/riversdale/documents/Riversdale_Mark_%20II_Presentation.pdf


Note: John Prince did an excellent write up on today's municipal media presentation: http://blog.johnprince.ca/ 

More coal mining interest in the Elk Valley

Company out of Singapore looking at an area in the Elk Valley

http://crowsnestpasscoal.com/

The news nobody in the Crowsnest Pass wanted to hear!

Nobody wanted to hear this I have gone through this several times at the mines (1984 and 1992) its not a lot of fun very tough on young families especially. When I spoke about this possibility a few council meetings back I was accused of fear mongering!
No fear mongering, just a combination of being around the coal industry all my life, going through mine closures and layoffs myself, watching the downturn in the steel industry and just plain common sense.


January 8, 2009
Teck Announces Global Workforce Reduction of 13% and 2009 Coal Production Plan
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 8, 2009) - Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE: TCK) today announced that it will reduce its global workforce by about 1,400 positions, or 13%, as part of its broader strategy to reduce costs and bolster competitiveness in the face of persistently weak commodity prices. The workforce reduction is expected to generate annual savings of approximately $85 million. Teck also said it plans to reduce coal production in 2009 to 20 million tonnes due to declining global steel demand.Each strategic business unit is adjusting personnel levels to protect operating margins given difficult commodity markets. The company is also significantly reducing staff and contractors associated with exploration activities and research and development. Finally, the workforce reductions will eliminate redundancies at the corporate level created by Teck's recent acquisition of Fording Canadian Coal Trust's assets."Given continued economic uncertainty, a significant reduction in our workforce is needed to further reduce costs and position Teck for both short and long-term competitiveness," said Don Lindsay, President and CEO. "Notwithstanding the substantial decline in commodity prices, this was a difficult decision and I want to thank the affected employees for their contributions to the company."In total, about 1,000 employee and 400 contractor positions will be eliminated by the end of 2009, with the majority of the reductions to be completed in the first quarter. Teck expects to take a charge of approximately $35 million in the first quarter for severance and other related costs associated with this reduction.