Conuma Resources has acquired another idled steelmaking coal mine in B.C.
Anglo American plc announced Thursday the sale of its Peace River Coal operations to Conuma Resources Ltd., a privately owned mining company with three operating metallurgical coal mines in northeastern B.C.
Peace River Coal’s operations, which included the Trend-Roman mines near Tumbler Ridge, shut down 10 years ago.
In a press release, Anglo American suggested Conuma plans to restart the mine.
“We are delighted to have completed the sale of Peace River Coal to Conuma and hope to see the asset return to production under its new ownership,” Richard Price, director of legal and corporate affairs for Anglo American, said in a press release.
“The high-quality steelmaking coal tenures at Peace River Coal will be added to Conuma’s established 5 million tonne production capacity in British Columbia, helping ensure the asset is set up for a sustainable future for the benefit of First Nations partners and all our stakeholders.”
B.C.’s new Mines Minister Jagrup Brar welcomed the transaction.
“Industry partners that demonstrate their commitment to unions, stakeholders, and First Nations to make long-term investments and develop opportunities for British Columbians are valued in our province,” he said in press release. “That’s why I am happy to see the hard work Anglo American and Conuma have put into the sale of PRC to operate sustainably while benefitting people in our province today and for generations to come.”
The transaction has the support of Treaty 8 First Nations in the Tumbler Ridge region – the West Moberly and Saulteau First Nations.
As part of the sale agreement, Conuma will inherit a caribou recovery project that Anglo American developed in partnership with the Saulteau and West Moberly First Nations. That agreement includes the relinquishment of some of Peace River Coal’s tenures.
“In the past, extractive companies have come to Treaty 8 and left the lands devastated and contaminated,” said West Moberly First Nation Chief Roland Wilson. “Today, we are charting a new path with companies like Anglo American and Conuma to build sustainable development projects that bring a net positive effect to iconic species like Caribou, our community and our way of life.”
“Today’s announcement shows that we can protect the environment, honour our Treaty, and provide for long-term sustainable mining operations,” said Saulteau Chief Rudy Paquette.
“I want to congratulate our friends and neighbours in the District of Tumbler Ridge, and the province, Canada, and Anglo American and Conuma. Working together we can recover endangered caribou populations, attract investment, and create and protect skilled jobs right here in B.C. and Treaty 8.”
Metallurgical coal is used to make steel. Ten years ago, after steelmaking coal prices crashed, Conuma bought three idled mines in B.C. from Walter Energy, which had shuttered the mines after going bankrupt.
One by one, Conuma restarted all three mines – Brule and Wolverine in 2016, followed by the Willow Mine in 2020.
Conuma also acquired the idled Quintette mine from Teck Resources (TSX:TECK) in 2023, and is working to restart the mine.
