The Canadian Press reported that Alberta’s top court has dismissed a lawsuit brought by Altius Royalty Corp. regarding a request for compensation related to the government’s decision to phase coal-fired power out and how that decision ultimately impacted the Genesee mine, which was a captive operation serving the Genesee coal-fired power plant in Alberta, Canada.
Altius Royalty Corp. was asking for C$190 million ($65.6 million) saying the government’s decision amounted to expropriation. The court found that neither Canada nor Alberta would benefit economically from Altius’ property. The court also said allowing Altius’ appeal would prevent the government’s ability to regulate industry.
