At the same time HD Mining was holding its public open house, Canadian Dehua International announced that it is pulling out of Tumbler Ridge.
Over the last year, Dehua has been investigating coal leases in the Tumbler Ridge area. Over summer, it was drilling in the Bullmoose area. More recently the company has been exploring a property in the Wapiti River area.
But the company announced that it would be shuttering its operations in Tumbler Ridge as of Sunday night. “The decision has been forced upon Dehua following a deluge of calls from investors in Dehua’s mining operations in Canada,” said the statement issued by Darryl Larson, the company’s lawyer.
Dehua was hoping to have the mine constructed by 2014, but is having difficulties lining up investors in the wake of HD Mining’s court battles. “Investors have expressed reluctance to proceed with funding in the aftermath of the challenge,” says the release.