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PacRim Coal Suspends Permitting Process for Chuitna


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AMA Members:
 
 
Friday, I was informed that PacRim Coal, LP has decided to suspend its efforts permitting the Chuitna Coal Project in West Cook Inlet.  That day, the company issued the following statement:  "Following several months of internal review and discussions, the partners in PacRim Coal, LP have decided to suspend pursuit of its permitting efforts to invest in other projects."
 
For a company to conclude there are better places than Alaska to invest millions of dollars is discouraging at best.  The Chuitna Coal Mine was projected to exceed an investment of $600 million in the project's development and operation.  The mine would have created up to 500 jobs during construction and 350 full-time, year-round jobs during operation, and exceed $300 million in revenues to the Alaska Mental Health Trust and millions of dollars to local governments and the State of Alaska.  At a time when we're seeing thousands of layoffs and budget deficits in the billions, it is more important than ever to ensure Alaska has policies that encourage investment in our economy.  I am hopeful that our policymakers see this announcement as a red flag, and focus on policies that strengthen our economy, encourage new investment, and show that Alaska is open for business.  
 


Deantha Crockett
Executive Director
Alaska Miners Association

 

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