Teck Resources Ltd. is pulling its application for a controversial new oil-sands mine in Alberta, freeing Canadian Prime Minister Justin Trudeau from a political predicament.
The company will write down the Frontier project’s C$1.13 billion ($850 million) carrying value, it said in a statement late Sunday.
Justin Trudeau.
Photographer: Cole Burston/Bloomberg
Teck’s decision not to proceed with the mine frees Trudeau from possibly the toughest test yet of his vow to balance developing Canada’s resources with fighting climate change. Rejecting the mine would have sparked widespread anger in Alberta, where the mine would have provided jobs and investment; approving it would have alienated the ...
