Report finds coal 'not in public interest' as Alberta delays final policy decision

CALGARY -

The province's coal policy committee says it will take until the end of the year to review public feedback on its review of mining on the eastern slopes of the Rockies.

The province also announced the current halt on coal activity and exploration will continue indefinitely. The moratorium was set to expire at the end of the year.

The announcement came just hours after a report released by the University of Calgary's School of Public Policy determined a coal mine would not be in the public interest.

The review of a hypothetical mine in the eastern foothills estimated about $440 million in tax revenues and $35 million in employment earnings. But, by the time borrowing costs and other economic factors were considered, the authors concluded there was no money to be made.

"Only under the most optimistic price and activity assumptions does the mine earn a net profit," the report states. "Tax revenues would be marginal and additional labour income would accrue to only a few individuals."

The report goes on to outline expected impacts on ranching, agriculture, tourism and wildlife, also noting the province would run the risk of being left to remediate mine sites.