The Alberta government will pay $95 million to an Australian coal company as part of a legal settlement over changes to the province's coal policy, according to a recent note to the company's shareholders.

Evolve Power said in the note it is "pleased to announce" the financial details of the settlement, which the province agreed to in principle earlier this year.

The province also agreed to a $143-million settlement with another company, Atrum Coal, earlier this year.

Evolve and Atrum were among several coal companies that had sued the province in 2023 over the way the provincial government has shifted Alberta's coal policies.

Policy changes over the years

In 2020, the UCP government rescinded the province's longstanding coal policy , which had been established in 1976 un

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