Teck Resources says it faces $1.1-billion hit on Frontier oil sands project without federal approval

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Teck Resources says it faces $1.1-billion hit on Frontier oil sands project without federal approval GlobeBusiness

This translation has been automatically generated and has not been verified for accuracy.Teck Resources Ltd. says it would be forced to take a write down of $1.1-billion on the Frontier oil sands project if the federal government doesn’t approve it.

But Teck hasn’t proven whether the project which it previously said would cost more than $20-billion to construct, would be commercially viable. On Friday, the company said in a statement alongside its fourth quarter earnings, that thanks to ongoing technological and operational improvements it believes Frontier will be “technically feasible and commercially viable.”

 

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globebusiness GOOD! Sink this crap corp and it's political lap dogs with it! :)

globebusiness Looking for subsidies ? Free enterprise ?

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