Canadian miner Teck Resources said on Friday it would write down the value of its proposed Frontier oil sands mine by C$1.13-billion should Prime Minister Justin Trudeau’s government reject the project.
The fate of the C$20.6-billion mine is expected to be decided by next week in what has become a test of the government’s commitment to reduce Canada’s greenhouse gas emissions and repair relations with the country’s indigenous people.
At full capacity, the mine would be one of the largest in Alberta’s oil sands, producing 260 000 barrels of crude oil per day.