Cline Mining Corporation files suit against the Province of British Columbia for expropriation of coal properties
TORONTO, May 29, 2012
TORONTO, May 29, 2012 /CNW/ - Cline Mining Corporation ("Cline Mining" or the "Company") (TSX:CMK) has filed a notice of civil claim (the "Claim") dated May 28, 2012 in
the Supreme Court of British Columbia against the Province of British
Columbia (the "Province") with respect to Cline Mining's Lodgepole,
Sage Creek and Cabin Creek coal properties located in the Flathead
Valley in Southeastern B.C. and the Province's passing of the Flathead Watershed Area Conservation Act (the "Act").
Cline is seeking a declaration that its rights under its coal licenses
and coal license applications for the Lodgepole, Sage Creek and Cabin
Creek properties were expropriated, taken or injuriously affected by
the Province's passing of the Act and of the Flathead Watershed Area Order in Council and Regulation
41/2010 which created a Mineral and Coal Land Reserve on all lands
within the Flathead River Watershed Area.
Cline is also seeking compensation including, but not limited to, the
loss of the value of the licenses and applications for licenses for
these properties, estimated at in excess of $500 million on a net
present value basis over the expected lives of the mines. Cline has
retained counsel at Fraser Milner Casgrain LLP in Vancouver, BC to
advance the legal proceedings on its behalf.
About Cline: Cline has metallurgical coal property interests in British
Columbia and in Colorado, U.S.A. with NI 43-101 independent Technical
Reports. Cline Mining Corporation is focused on the exploration and
development of metallurgical steel making coals in Canada and the U.S.,
and on its iron ore property in Madagascar and its Cline Lake gold
property in northern Ontario, Canada.