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December 20, 2013
06:06 EDTAXXAlderon provides update on power, environmental assessment release
Alderon provides an update on the power and the environmental assessment release for its Kami Iron Ore Project in western Labrador. Newfoundland and Labrador Hydro confirmed on January 10 that the requisite power will be available for the Kami Project. NL Hydro has an obligation to supply power to all its customers within the Province. Following completion of three stages of engineering, NL Hydro and Alderon have advanced their commercial discussions and a Power Purchase Agreement is ready for execution pending the decision from the Provincial Government to expand the transmission capacity from Churchill Falls to Labrador West. According to an interview on December 18, with VOCM News, Kathy Dunderdale, the Premier of Newfoundland and Labrador, supports a power line from Churchill Falls to Lab West, not just because of Alderon but because of the growth in the region. Premier Dunderdale also said the Government encourages investment and has been working very closely with Alderon and that Alderon was meeting with the Minister of Natural Resources on December 18. The Environmental Assessment process is a dual Federal and Provincial undertaking. According to VOCM News, Premier Dunderdale said yesterday that she expects Alderon to be given the final environmental green light on its Kami Project very early in the New Year. The Canadian Environmental Assessment Agency released the Comprehensive Study Report on October 28. On November 27 the Agency closed the 30 day public review of the Comprehensive Study Report, marking the end of the Federal Environmental Assessment process. Review of the responses received during the comment period has identified no new issues or fatal flaws. The Kami Project is now awaiting a final project decision from the Federal Minister of Environment.
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