Canadians asked to weigh in on Teck’s proposed oil sands mine
A joint federal-provincial review panel is calling for public comments on Teck Resources’ (TSX:TECK.A and TECK.B)( NYSE: TECK) multibillion-dollar Frontier oil sands project, to be built about 110 kilometres north of Fort McMurray, in Alberta.
Frontier is expected to cost more than $20 billion, with first oil coming in 2026.
The company, Canada's largest diversified miner, has not yet committed to building the 260,000 barrel per day mega-mine. But if it goes ahead with it, Teck believes it won’t start producing until 2026 at the earliest.
For now, the Vancouver-based company is busy moving forward with its Fort Hills oil sands project, a joint venture with Suncor Energy (TSX:SU), which is expected to begin production later this year.
The review panel for Frontier, a project that needs more than $20 billion to be taken off the ground, said it expects to collect several sets of responses over the coming weeks. After they have all been received, the panel will post them online.
If approved, Teck estimates the Frontier mine will directly employ up to 7,000 workers during construction and up to 2,500 workers during operation.