Teck Resources Looking At $1.1B Loss If Frontier Rejected

Teck Resources could be hit with a big loss if its Frontier project is rejected.

The oil company released its fourth-quarter update on Friday where they touched on the proposed project which would be north of Fort McMurray next to Wood Buffalo National Park.

They note they will lose around $1.13 billion if the federal government doesn’t give Frontier the green light.

The government of Canada is currently reviewing the project and is expected to make a decision by the end of the month.

Frontier has been a major topic of discussion across Canada for the past several weeks.

Some have argued the project would have a big impact on the environment and climate, while others note the project would help improve the country’s economy.

Frontier would create about 7,000 jobs during construction and another 2,500 through operations while producing around 260,000 barrels of oil per day.

Multiple Indigenous groups have publicly expressed their support for the project.

This includes the Fort McMurray #468 First Nation, Fort McMurray Mtis, Fort McKay Mtis, Willow Lake Mtis Nation, and the Athabasca Landing Mtis.

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