The Alberta government is paying out more than $140 million to end one of five lawsuits launched against it over its coal mining policies.
A notice published online by Atrum Coal says the company has agreed to end its lawsuit and surrender its land back to the province in exchange for the payment.
The company says it received just under $137 million last week and will receive another $6 million after it completes some reclamation work.
Atrum was one of two companies suing the province that announced last month that settlements were reached, but the other, Evolve Power, has yet to share details.
The companies are among five that are suing Alberta for a collective $16 billion.
They argue that Alberta effectively expropriated their land after it suddenly reinstated its long-standing coal policy in 2022 less than two years after it was lifted and companies had been encouraged at that time to buy land for potential mining projects.
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