ALBERTA – The soon-to-be new owner of the Grande Cache metallurgical coal mine northwest of Edmonton says they want to reopen it. The previous operator was forced into bankruptcy when its Chinese owner defaulted on debts of approximately $500 million.
The new owner plans to restart mining at the Grande Cache open pit coal mine this summer. (Image: Rick Bremness/CBC)
The underground and open pit mines were closed in 2015, putting about 220 employees out of work.
CBC News reported last week that the court appointed receiver has agreed to sell the property to Sonicfield Global, a private company and one of the mine’s lenders. Operations are expected to restart at the pit shortly after the purchase closes at the end of May.
No further information about the buyer could be found.