In January, the Alberta government scrapped a series of ministerial orders that banned coal development in the foothills of the Rocky Mountains.

Evolve Power Ltd. is the latest company to reach a settlement with Alberta in a $16-billion multiparty lawsuit over the government’s flip-flop on coal policy.

The company has agreed to drop its suit and surrender two of its coal land leases – for its Chinook and Greenfield projects – in exchange for $95-million. Evolve will also transfer the mineral and surface rights related to those projects to the Government of Alberta, according to a notice on the company’s website.

The province is due to pay up $93.5-million before Nov. 3. It will retain $1.5-million until Evolve completes reclamation of its exploration activities at the Chinook projec

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