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(OTTAWA) – February 24, 2020 – Today, the Canadian Chamber of Commerce issued the following statement regarding Teck’s decision to withdraw the Frontier Mine from the approval process:

“Canada urgently needs to find common ground on how its climate policy balances with its broader commitment to support resource development. The Teck Frontier Mine, a project ten years in the making, joins the long list of resource projects let down by our regulatory system. Without serious improvement, it will not be the last.

The uncertainty faced by the Frontier Mine had little to do with the project, which adhered to all regulatory standards and would have continued to make improvements on its environmental performance in response to carbon pricing mechanisms, a policy mechanism Teck actively endorsed.

Instead, the uncertainty stemmed from pressures that were beyond the scope of Teck’s project and ultimately beyond the scope of our regulatory system. This type of political uncertainty severely undermines confidence in our independent regulatory bodies.

We must recognize the uncertainty created in the planning and approval of many resource projects is a gamble few investors, regardless of sector, will want to take.

Canada needs to decide whether we wish to have a growing resource sector. If so, we must establish a consensus on how to get major projects, regardless of sector, built in this country. We must not become a nation of builders that cannot get anything built.”

About the Canadian Chamber of Commerce – Because Business Matters

The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.

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Perrin Beatty is available for interviews

Please contact Phil Taylor @ ptaylor@chamber.ca