Suquash Coal Ltd., Port Hardy, BC
Suquash Coal Ltd. proposes to restart the Suquash Coal mine 25 km east of Port Hardy. The company has preliminary support of the Kwakiutl First Nation subject to a number of social, economic, and environmental conditions.
The company is a wholly owned subsidiary of Electra Gold Ltd., Port Coquitlam, a Toronto Venture Exchange listed company with the trading symbol ELT. Electra operates a chalky geyserite mine and a barge loading terminal near Port Hardy. A geological report complying with Canada’s National Instrument 43-101 standards has been completed for the project and is available on Electra’s web site.
The mine would be an underground operation as it was before. It is proposed that 120,000 tonnes per year of coal would be produced working two shifts per day. As before, coal would be loaded on barges for delivery to customers.
An investment of $19 million is proposed. Gross revenues would be about $10 million per year. About 50 direct jobs would be created at the mine.