All-Canadian royalty portfolio
Paintearth (thermal coal)
Prairie Royalties
Location
175km southeast of Edmonton, Alberta, Canada
Operator
Westmoreland Coal Company
www.westmoreland.com
Utility Company
ATCO
www.atcopower.com
Commodity
Electrical Coal "mine mouth" (tonnage based royalties with no commodity price exposure)
| Asset Profile | |
|---|---|
| LTM (as of December 31, 2017) Royalty Revenue | $0.5 million |
| Annual production capacity | 3.1 mt |
The Paintearth Mine is located in the Central Plains region of Alberta, Canada approximately 175km southeast of Edmonton, Alberta. The mine has been in operation since 1956 and has an annual production capacity of 3.1 mt. Coal produced from the mine is used as a fuel source for ATCO’s Battle River coal fired power station, which is located approximately 25km southeast of the mine.
The Battle River power station is comprised of three power generating units (units 3, 4 and 5 after units 1 and 2 were decommissioned in 2000) with total capacity of 670MW. Units 1 and 2 were operating from 1956 to 2000 while unit 3 began operating in 1969, unit 4 in 1975 and unit 5 in 1981. The units were originally expected to be decommissioned in 2019, 2025 and 2031 respectively, while the government regulation to end coal-fired power by 2030 is likely to impact the last unit's decommissioning date.
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