The ongoing hot button issue of regional recreation facilities and who pays what for them continues this week with the ball back in Rossland’s court.
A fire occured at the No.2 Slag Fuming Furnace at Teck Resources Limited's Trail Operations at 12:50 am, Thursday, July 2, 2009, lasting approximately two hours. The cause, and the extent and estimate of the cost of damages, and the time required for repair will not be available until a full investigation is completed. There were no injuries and there was no impact to other areas of the facility.
The Columbia Basin Trust (CBT) is pleased to announce three community pilot projects that will receive financial support as part of the State of the Basin Initiative, a model for monitoring and reporting on social, environmental, economic and cultural indicators and trends in the Columbia Basin region.
Earlier this year, CBT invited municipalities, regional districts, First Nations, not-for-profit organizations and other groups to submit project proposals related to planning efforts that incorporate information.
Teck made a major move this week in its continuing efforts to restructure the company’s debt load. Late last year Teck’s debt had soared to just under $10 billion US following a seemingly ill timed $14 billion takeover of Fording coal mere days before the collapse of commodity prices.
With a current agreement in place as a non-binding memorandum of understanding, Teck will sell a one third interest in the Waneta Dam. The deal is worth 825 million dollars to Teck. A pre-tax gain of approximately C$625 million is expected to be recorded on the transaction.