Canadians blow up Rinehart’s coal plans

Original article by Nick Evans
The Australian – Page: 13 & 16 : 23-Jun-21

Regulators in Canada have rejected environmental approval of Riversdale Resources’ proposed Grassy Mountain coking coal project in Alberta. Riversdale Resources is owned by Gina Rinehart’s Hancock Prospecting, which paid $800 million to acquire it in 2019. News of the rejection of the Grassy Mountain project had a significant impact on the share price of Montem Resources and Atrum Coal on 22 June, with both companies having projects in the vicinity of Grassy Mountain; Montem’s shares fell 52.8 per cent, while Atrum’s shares were down by 40.4 per cent.

CORPORATES
RIVERSDALE RESOURCES, HANCOCK PROSPECTING PTY LTD, MONTEM RESOURCES LIMITED.- ASX MR1, ATRUM COAL LIMITED – ASX ATU

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