Mining Intelligence and News
Canada

Arctos Anthracite Project

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Summary

Mine TypeOpen Pit
Study CompletedFeasibility
 Archived Information
Commodities
  • Coal (PCI)
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Arctos Anthracite Project is a proposed coal mining development in northwestern British Columbia, focused on extracting anthracite, a high-grade form of coal used in steelmaking.

The project has faced strong opposition from the Tahltan First Nation due to its location in an area of cultural and ecological importance, which has led to delays and required negotiations with the BC government.

In May 2015, the Arctos licences were sold to the provincial government’s rail corporation, with the sellers retaining a 10-year option to repurchase them at the same price.

In Q1 2025, it was confirmed that the repurchase option expired on May 1, 2025, and was not exercised.

Owners

SourceSource
CompanyInterestOwnership
British Columbia Railway Company 100 % Indirect
The Arctos Anthracite project was developed by Arctos JV between Fortune Minerals (80%) and POSCO Canada (20%).

In May 2015, Fortune and POSCO sold their interests in the Arctos licences to BC Railway, the provincial government’s rail corporation, for $18.3M, retaining a 10-year option to repurchase at the same price. An addendum equalised ownership at 50/50. The Province, through BC Railway, assumed responsibility for maintaining and conserving the roads and structures built.

In Q1 2025, Fortune confirmed the repurchase option expired on May 1, 2025, and was not exercised. The licences remain with BC Railway (the BC government). Fortune no longer has development rights, and its investment in the project is accounted for using the proportional consolidation method.

Deposit type

  • Sedimentary

Summary:

The anthracite deposits at the Property are part of significant coal measures within the Bowser Basin. This ancient basin formed and filled with sediments eroded from surrounding high land during the late Jurassic to early Cretaceous periods.

The Klappan (Anthracite) Formation sediments are interpreted to have been deposited in a regional, shallow gradient, stable coastal delta (Gulf 1988). The environments of deposition cycled between fluviodeltaic and marine. The coal seam deposition is an extreme of the cycles, with an average of 20 to 30 metres of mudstone, siltstone and sandstone separating the coal seams. The interburden lithology generally consists of laminated mudstone, siltstone and fine-grained sandstone. Occasional deposition of coarse sandstone and conglomerate occurs.

Anthracite seams are encountered on the Arctos Anthracite Property. Anthracite is the highestrank coal under international coal classification standards. Anthracite on the Property occurs in 33 identified seams with individual seam true thickness of up to 11 metres; 28 of the seams have an average true thickness of at least 0.50 metres and contain at least 50 percent coal.

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Commodity Production

CommodityUnitsLOM
Coal (PCI) kt 69,242
All production numbers are expressed as clean coal.

Production Costs

CommodityUnitsAverage
Cash costs Coal (PCI) CAD 127.61 / t *  CAD
Total cash costs Coal (PCI) CAD 147.36 / t *  CAD
Assumed price Coal (PCI) CAD 184 / t *  CAD
* According to 2012 study / presentation.

Operating Costs

CurrencyAverage
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* According to 2012 study.

Project Costs

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Personnel

Mine Management

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Workforce

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