Altius
This project is part of our
All-Canadian royalty portfolio

Sheerness (thermal coal)
Prairie Royalties

Location
160km northeast of Calgary, Alberta, Canada

Operator
Westmoreland Coal Company
www.westmoreland.com

Utility Company
ATCO (50%) and TransAlta (50%)
www.atcopower.com
www.transalta.com

Commodity
Electrical Coal "mine mouth" (tonnage based royalties with no commodity price exposure)

Asset Profile
LTM (as of January 31, 2016) Royalty Revenue $5.02 million
Annual production capacity 4.0 mt
Reserves 33.6 mt (as per Westmoreland 10-K, December 31, 2014)
Estimated Mine Life 8 years

The Sheerness Mine is located approximately 160km northeast of Calgary, Alberta. Operations, commenced in 1986 and currently have an annual production capacity of 2.4 mt. Coal is delivered by road from the open pit mine to the Sheerness power station, which is adjacent to the mine. Sheerness power station is owned by ATCO (50%) and TransAlta (50%). Like TransAlta and Capital Power, ATCO is one of the leading utilities in Canada.

The power station is comprised of two power generating units with total capacity of 760MW. Unit 1 began operating in 1986 and unit 2 in 1990. The units are expected to be decommissioned in 2036 and 2040 respectively.

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