Kenney says investor confidence needed after Teck mine project killed

EDMONTON — Alberta Premier Jason Kenney says his government is taking action to boost investor confidence following a decision by Teck Resources Ltd. to shelve a massive mine project in the province.

The United Conservative premier says he has talked with other major companies who are cancelling and freezing investments because of economic uncertainty in Canada.

Kenney says legislation will be introduced in Alberta this week calling for an increase in penalties for people who interfere with infrastructure such as rail lines.

Citing political discourse over climate change, Vancouver-based Teck Resources withdrew its application Sunday for the Frontier project in northern Alberta, just days ahead of an expected federal government decision.

The company’s CEO says a broader national discussion on energy development and Indigenous reconciliation also factored in the decision.

Kenney has blamed Ottawa, saying dithering by Prime Minister Justin Trudeau’s government on approving the project, coupled with recent rail blockades by protesters of a natural gas project in B.C., have made investors think twice about Canada.

Alberta Opposition NDP Leader Rachel Notley says the decision by Teck Resources should be a wake-up call for Kenney.

Notley says Kenney’s demonization of climate change advocates has sown division and undermined consensus on reconciling major energy projects with the environment.

Notley says Kenney needs to stop the rhetoric and work with Ottawa to create a credible, unified climate change framework that international investors are demanding.

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