Athabasca Minerals Inc. Awarded Provincial Contract for Coffey Lake Public Pit
March 6, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) announces it has been awarded a 15-year contract by the Province of Alberta to construct, operate and manage the Coffey Lake Public Pit north of Fort McMurray, Alberta. (i.e. “the Contract”). This Crown resource is situated on approximately 1345 acres of land about 90 km north of Fort McMurray.
As per Alberta Government, Request For Proposals (“RFP”) Number 19TDROLR800AMI issued on September 11, 2018, AMI will be responsible for managing gravel pit operations, without limiting the scope of work to be performed, the Services under the Contract as follows:
- a) assessment of the surface material type and quality, including grades of gravel;
- b) vegetation removal in accordance with applicable regulatory authorizations;
- c) stripping and excavation in accordance with applicable regulatory authorizations;
- d) crushing and stockpiling as needed of the appropriate grades of gravel;
- e) monitoring of surface material loading and removal;
- f) the collection of Royalties;
- g) accounting of Royalties and volumes;
- h) the collection of Reclamation Surcharges from operators.
According to Robert Beekhuizen, Chief Executive Officer of AMI, “with the scheduled closure of the Province of Alberta’s Susan Lake Public Gravel Pit after 20 years of operation, by the end of March this year, we recognize the strategic importance that the Province’s Coffey Lake Pit represents to sustain aggregate supply in the Fort McMurray region for the next 15 years.”
Dana Archibald, Chief Operating Officer and the Corporation’s project executive for the Coffey Lake pit development program stated “AMI is committed to ensuring the Coffey Lake Gravel pit is developed in a timely and environmentally responsible manner, using industry best practices. This Contract enables AMI to leverage its 20-years of experience in large-scale pit management operations from Susan Lake Public Pit for the benefit of local industry and stakeholders for the next 15 years at Coffey Lake pit. We are committed to continuous improvement as we deliver our services.”
AMI will commence the regulatory and permitting program immediately to achieve a planned opening of the Coffey Lake Public Pit in the second half of 2019.
About Athabasca Minerals
The Corporation is an integrated aggregates company involved in resource development, aggregates marketing and midstream supply-logistics solutions. Business activities include aggregate production, pit management services, sales from corporate-owned and third-party pits, acquisitions of sand and gravel operations, and new venture development. Athabasca Minerals is also the parent company of Aggregates Marketing Inc. – a midstream business providing integrated supply and transportation solutions for industrial and construction markets; AMI Silica Inc – positioned to become an in-basin supplier of premium domestic frac sand for Alberta and NE British Columbia; and joint venture owner of the Montney In-Basin Frac Sand Project and Duvernay Frac Sand Project. The Corporation also has industrial mineral land exploration licenses that are strategically positioned for future development in industrial regions of high potential demand.