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Canada's Teck pulls the plug on US$15B Alberta investment

Canada’s reputation as an attractive destination for energy-focused resource development dollars has received a fresh bloody nose after its biggest diversified miner, Teck Resources, decided to withdraw its federal permitting application for its C$20.6 billion (US$15 billion) Frontier oilsands mine in Alberta over the weekend, mere days before a final permitting decision was due.

Canada's Teck pulls the plug on US$15B Alberta investment Canada's Teck pulls the plug on US$15B Alberta investment Canada's Teck pulls the plug on US$15B Alberta investment Canada's Teck pulls the plug on US$15B Alberta investment Canada's Teck pulls the plug on US$15B Alberta investment

Teck Resources has withdrawn its federal permitting application for the C$20.6 billion Frontier oil sands mine in Alberta, Canada

Vancouver-based Teck, which had spent about $1 billion over the past decade to navigate Canada's onerous permitting process, said it did not arrive at the "difficult decision" lightly and CEO Don