Alberta reaches settlement with two coal companies suing over policy flip-flop

Two coal companies suing Alberta's government over its mining policy flip-flop say they've reached a settlement agreement with the province.

Notices published online by Evolve Power and Atrum Coal say the details are confidential and no dollar figures are disclosed.

Atrum says its agreement is definitive but Evolve says the terms of its own settlement are still being finalized.

The companies are among five that are suing Alberta for a collective $16 billion.

The companies argue that Alberta effectively expropriated their land after it suddenly reinstated its long-standing coal policy in 2022 less than two years after it was lifted and companies had been encouraged at that time to buy land for potential mining projects.

Alberta lifted the coal policy again earlier this year in favour of a new rule system, but Evolve said at the time that it would have no effect on its lawsuit.

Picture Courtesy: THE CANADIAN PRESS/Amber Bracken