Cabin Ridge Holdings Ltd. and Cabin Ridge Project Ltd. have initiated legal proceedings against the government of Alberta in the court of Queen’s Bench of Alberta, Canada. The company said it had invested significantly to acquire their freehold mineral rights and project assets for the purpose of developing a world-class metallurgical coal project. The claim is on the government of Alberta’s change of position by which the government substantially and unreasonably interfered with Cabin Ridge’s development rights and deprived Cabin Ridge of any reasonable use of the valuable mineral rights that it acquired, Cabin Ride said. Consequently, the government of Alberta’s de facto expropriation of Cabin Ridge’s freehold mineral property has prevented Cabin Ridge from continuing to develop its steelmaking coal project and has deprived the Cabin Ridge companies of their substantial investments in Alberta, it said.
Without this interference, the proposed met coal mine would have generated approximately 500 direct jobs and $2 billion in taxes and other revenue for the provincial and federal governments.
Cabin Ridge is seeking damages in the amount of $3.441 billion due to “loss of net present value” of the property. Alternatively, the companies are seeking $56 million in restitution, plus future and contingent remediation costs.
