Mining firm, Teck Resources has decided to withdraw its application for the Frontier mine project. The proposed $20.6B oilsands mining project had been subject to federal government approval. A government decision was expected before the end of February. Teck says it will write down the $1.13 billion carrying value of the project. Teck has indicated that the decision was made in light of the broader conversation around climate change in Canada, and they claim that the move is not simply to avoid controversy.
