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The project is owned by the Arctos Anthracite Joint Venture, which is 80% owned by Fortune Minerals with Posco Canada holding the remaining 20% share.
The project is located in northwestern British Columbia, Canada.
The name change signifies a new era for the proposed mine and more accurately reflects the nature of the collaborative international development project.
“The previous name led some people to believe that the project would involve mining the entire mountain, which was incorrect,” said Robin Goad, president and ceo of Fortune.
Arctos has a measured resources of 107.9 million tonnes, Indicated Resources of 123 million tonnes and inferred resources of 359.5 million tonnes.
The open-pit mine is expected to product an initial 3 million tpy of ultra-low volatility pulverized coal injection (PCI) products for the export market.