The government of British Columbia had recently decided to restrict the development of petroleum and natural gas in the region, however, coal mining remains unaffected by the decision.
In response to the developments, the company acknowledged the significant spiritual, cultural and environmental importance of the region to the Tahltan and Iskut people and said that it was committed to sustainable development of the project.
Fortune president and CEO Robin Goad said "Fortune will continue working toward development of the Arctos project and will continue consultation with local communities and Aboriginal groups to address concerns related to our project."
The company-owned Arctos project is a joint venture, with POSCO Canada, wherein the latter holds a 20% interest.
Fotune, currently has completed a considerable amount of work on engineering and feasibility aspects of the project, totaling $100m and had undertaken the British Columbia Environmental Assessment process for the project.
