Stantec to boost oilsands mining operations and reclamation exposure with acquisition of Norwest
Edmonton-based engineering and design firm Stantec is acquiring a long time player in oilsands mining development.
Stantec says it has signed a letter of intent to purchase Calgary-based Norwest, which for decades has been involved in oilsands mining, from resource assessment and operations to reclamation.
The terms of the deal were not disclosed.
Norwest will be integrated into Stantec’s energy and resources business, the company said.
“We are seeing positive momentum in this sector after a number of challenging years,” Stantec CEO Gord Johnston said in a statement.
“Both firms were able to effectively manage business during the economic downturn, and we are looking forward to expanding Stantec’s geotechnical, geological, and mining work for our energy and resources clients across western Canada and the western United States.”
Norwest’s capabilities span the full project life cycle for oilsands mining, the company says, which includes drilling project management, geological deposit modeling, surface mine planning, hydrology, and geotechnical engineering.
More recently, Norwest has shifted their focus to partnering with oilsands operators who require design and construction of compensation lakes, tailings dam design, and on-site geotechnical monitoring.
In the Vancouver market, Norwest’s presence has assisted in the re-development of the northeast British Columbia coal mining sector, and new metal mine development projects. In the United States, Norwest is an established coal mining consultant with expertise in resource and reserve assessments, mine planning, mineral processing, water management and permitting, and due diligence activities.
Norwest has also successfully supported a number of international mining projects in eastern Europe, South America and China.
The acquisition is expected to close in the second quarter of 2018.
This article was first at JWN Energy: http://www.jwnenergy.com/article/2018/3/stantec-boost-oilsands-mining-operations-and-reclamation-exposure-acquisition-norwest/