Maxim Power Corp. Announces Receipt of ERCB Coal Beneficiation Plant Approval
30 Maggio 2013 - 12:04AM
Marketwired
Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG)
announced today that the Alberta Energy and Resources Conservation
Board ("ERCB") has issued Approval No. C 2013-3 to MAXIM's wholly
owned subsidiary, Milner Power Inc., to construct and operate a
coal beneficiation plant in proximity to the Milner generating
station. MAXIM now has all necessary environmental approvals to
construct and operate a coal beneficiation facility.
The new coal beneficiation plant, designated by the ERCB as Coal
Processing Plant No. 11, will be used to bifurcate coal mined from
the MAXIM's Summit Coal Mine 14 into a high-quality, low-mid
volatile, metallurgical coal for shipment to export markets, and a
fuel grade coal suitable for power production at the Milner
generating station. The planned new beneficiation plant is capable
of processing run-of-mine coal at a rate of 1.3 million tonnes per
annum.
MAXIM considers its Summit Coal resources, which are comprised
of Mine 14 and Mine 16S, to be valuable strategic assets. Mine 14
is a fully permitted mine that will be located north of Grande
Cache, Alberta and is currently estimated to contain 18.9 million
recoverable tonnes of high quality metallurgical coal. (Refer to
Technical Report on The No. 14 Mine Project filed on SEDAR on March
21, 2013.) Mine 16S is located 30 kilometers northwest of Mine 14
and represents 29% of Summit's total area of leases. An NI 43-101
Technical Report has not been prepared for the Mine 16S property.
Summit's potential coal resources have significant value both as a
fuel source for MAXIM's existing Milner generating facility and for
the sale of export metallurgical coal.
MAXIM anticipates that Mine 14 and the coal beneficiation plant
will commence construction in 2013 and will commence commercial
operation in Q1 2015.
About MAXIM
Based in Calgary, Alberta, MAXIM is an independent power
producer, which acquires or develops, owns and operates innovative
and environmentally responsible power and power related projects.
MAXIM currently owns and operates 41 power plants in western
Canada, the United States and France, having 804 MW of electric
generating capacity. MAXIM trades on the TSX under the symbol
"MXG". For more information about MAXIM, visit our website at
www.maximpowercorp.com.
Statements in this release which describe MAXIM's intentions,
expectations or predictions, or which relate to matters that are
not historical facts are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties which may cause the actual results, performances or
achievements of MAXIM to be materially different from any future
results, performances or achievements expressed in or implied by
such forward-looking statements. MAXIM may update or revise any
forward-looking statements, whether as a result of new information,
future events or changing market and business conditions and will
update such forward-looking statements as required pursuant to
applicable securities laws.
Contacts: Maxim Power Corp. John R. Bobenic President and CEO
(403) 750-9300 Maxim Power Corp. Michael R. Mayder Vice President,
Finance and CFO (403) 750-9311 www.maximpowercorp.com
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